Categories Earnings, Leisure & Entertainment
Walt Disney (DIS) beats Q1 revenue and earnings estimates
Walt Disney (NYSE: DIS) topped revenue and earnings expectations for the first quarter of 2020, allowing the stock to gain 1.5% in aftermarket hours on Tuesday.
Total revenues increased 36% year-over-year to $20.8 billion, beating estimates of $20.7 billion.
GAAP net income attributable to Disney fell 22% to $2.1 billion while EPS dropped 37% to $1.16. Adjusted EPS declined 17% to $1.53 but surpassed forecasts of $1.46.
In the Media Networks segment, revenues rose 24% to $7.4 billion. Cable Networks revenues increased 20%. ESPN saw declines due to an increase in programming and production costs as well as lower advertising revenue. Broadcasting revenues grew 34% to $2.6 billion.
Revenue in Parks, Experiences and Products rose 8% to $7.4 billion. Higher sales of Frozen, Star Wars and Toy Story merchandise helped drive an increase in merchandise licensing results. Studio Entertainment revenues totaled $3.8 billion in the quarter. Direct-to-Consumer & International revenues rose from $0.9 billion to $4 billion.
As of quarter-end, Disney + had 26.5 million paid subscribers while ESPN+ had 6.6 million subscribers. Total Hulu subscribers amounted to 30.4 million, reflecting a 33% increase year-over-year.
In November, Disney began offering a bundled subscription package of Disney+, ESPN+ and Hulu. The bundled offering has a lower average retail price per service compared to the prices of each service on a standalone basis. The average monthly revenue per paid subscriber for ESPN+ decreased from $4.67 to $4.44 due to a shift in the mix of subscribers to the company’s bundled offering.
Listen to on-demand earnings calls and hear how management responds to analysts’ questions
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to