Disney Q3 Earnings Highlights: Revenue Miss, EPS Beat, 105.7 Million Core Disney+ Subscribers
Portfolio Pulse from Chris Katje
The Walt Disney Company (NYSE:DIS) reported Q3 revenue of $22.33 billion, up 4% YoY but missing Street consensus estimates. Earnings per share were $1.03, beating estimates of 97 cents. The company reported a $90-million gain on its investment in DraftKings Inc (NASDAQ:DKNG), which it sold in the quarter. Disney also signed a recent partnership with PENN Entertainment (NASDAQ:PENN) for the ESPN Bet brand. Disney+ core subscribers reached 105.7 million.
August 09, 2023 | 8:34 pm
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NEUTRAL IMPACT
Disney's Q3 revenue missed estimates but EPS beat expectations. The company also reported a $90-million gain from its DraftKings investment sale. Disney+ core subscribers reached 105.7 million.
Disney's mixed Q3 results with a revenue miss but an EPS beat could lead to neutral short-term impact on the stock. The gain from the DraftKings sale and the increase in Disney+ subscribers could be positive factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Disney reported a $90-million gain from its investment in DraftKings, which it sold in the quarter.
Disney's sale of its DraftKings investment could have a neutral short-term impact on DraftKings' stock. The sale indicates that Disney realized a significant gain, but it also means Disney is no longer an investor.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Disney signed a recent partnership with PENN Entertainment for the ESPN Bet brand.
The partnership with Disney for the ESPN Bet brand could have a positive short-term impact on PENN's stock. This partnership could potentially increase PENN's visibility and customer base.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50