Disney's Indian Subsidiary Star's Losses Soar To $315M In Q3 Amidst Cricket World Cup
Portfolio Pulse from Utkarsh Roshan
Disney's Indian subsidiary, Star India, reported a 144% increase in operating losses to $315 million in Q3 2023, largely due to costs associated with the ICC Men's Cricket World Cup. Despite this, Star India's sports revenue rose by 71% to $399 million, driven by effective monetization and increased advertising revenue during the event.

February 08, 2024 | 9:40 am
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Disney's Q3 earnings reveal a significant increase in losses for its Indian subsidiary Star India, attributed to the Cricket World Cup, but also a notable rise in sports revenue.
The substantial increase in losses for Disney's subsidiary Star India due to the Cricket World Cup could concern investors, potentially impacting DIS's stock in the short term. However, the significant rise in sports revenue, driven by effective monetization and increased advertising revenue, could offset concerns about the losses. The mixed nature of this news (significant losses but also significant revenue growth) suggests a neutral short-term impact on Disney's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90