Disney Raises FY24 Adj. EPS Growth Target To 25%
Portfolio Pulse from Benzinga Newsdesk
Disney has increased its FY24 adjusted EPS growth target to 25% following strong performance in Q2, including double-digit adjusted EPS growth, meeting financial guidance, and achieving profitability in its Entertainment Direct-to-Consumer business. The company also reported over 6 million new Disney+ Core subscribers, a sequential ARPU increase, and expects significant cash flow generation. Despite a slight decline in Sports operating income and anticipated softer Q3 results for Disney+ Hotstar, Disney foresees continued profitability in streaming and robust growth in its Experiences business.
May 07, 2024 | 10:35 am
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Disney raises its FY24 adjusted EPS growth target to 25% following a strong Q2 performance, including profitability in its Entertainment Direct-to-Consumer business and significant subscriber growth in Disney+ Core.
Disney's announcement of exceeding its financial guidance and raising its FY24 adjusted EPS growth target to 25% reflects strong operational performance and strategic growth in key areas such as streaming and experiences. The profitability of its Entertainment Direct-to-Consumer business and the growth in Disney+ Core subscribers are particularly positive indicators for future revenue and profitability, likely leading to a positive short-term impact on Disney's stock price.
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