Walt Disney Q2 Earnings: Profit Beat, Moderating Parks Growth, Password-Sharing Crackdown And More
Portfolio Pulse from Anusuya Lahiri
Walt Disney Co (NYSE:DIS) reported Q2 earnings with a slight revenue miss at $22.08 billion versus the expected $22.11 billion, but beat EPS estimates with $1.21 against $1.09 consensus. Entertainment revenue fell by 5%, while Experiences segment grew by 10%. Disney+ and Hulu reported their first quarterly profit, contributing to a 17% increase in operating income to $3.8 billion. Disney+ password-sharing crackdown is set to begin next month. Despite these gains, DIS shares dropped 7.61% in premarket trading.
May 07, 2024 | 1:21 pm
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Walt Disney Co reported mixed Q2 earnings with a slight revenue miss and an EPS beat, alongside the first quarterly profit for Disney+ and Hulu. Shares fell 7.61% in premarket trading.
Despite Disney's EPS beat and the first quarterly profit for its streaming services, the slight revenue miss and the announcement of a password-sharing crackdown may have contributed to the negative investor sentiment, leading to a 7.61% drop in premarket trading.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100