Disney's Latest Quarterly Report Was Magic-Free
Portfolio Pulse from Upwallstreet
Disney reported a mixed fiscal Q3 with revenues of $22.33 billion, slightly below expectations. The company made a rare quarterly net loss of $460 million due to one-time charges and content impairments. Disney+ subscriptions dropped by 7.4%, worse than expected, largely due to losing the rights to Indian Premier League cricket matches. However, the Parks and Experiences division saw a 13% rise in revenue to $8.3 billion. Disney plans to raise the price of its ad-free streaming offering and crack down on password sharing, following Netflix's strategy.
August 10, 2023 | 1:15 pm
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Comcast reported a similar trend to Disney with a slowdown at its Florida-based theme parks.
Comcast's report of a slowdown at its Florida-based theme parks, similar to Disney's report, could have a negative impact on Comcast's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 40
NEGATIVE IMPACT
Disney's Q3 report shows mixed results with a net loss and a drop in Disney+ subscriptions. However, the Parks and Experiences division saw a rise in revenue. The company plans to raise streaming prices and crack down on password sharing.
Disney's Q3 report shows a net loss and a drop in Disney+ subscriptions, which could negatively impact the stock price. However, the rise in Parks and Experiences revenue and the company's plans to raise streaming prices and crack down on password sharing could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Netflix has insulated itself from the content pause and is enjoying record subscriber numbers due to its expansion, international production, and crackdown on password sharing. Disney is following Netflix's strategy in these areas.
Netflix's successful strategy of expansion, international production, and crackdown on password sharing has led to record subscriber numbers. This positive news, along with the fact that Disney is following Netflix's strategy, could have a positive impact on Netflix's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Penn Entertainment struck a $2 billion deal with Disney's ESPN to launch ESPN Bet, a branded sportsbook.
Penn Entertainment's $2 billion deal with Disney's ESPN to launch ESPN Bet could have a positive impact on Penn's stock price, as it represents a significant new revenue stream for the company.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 40