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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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
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