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.

Walt Disney beat Q1 2020 revenue and earnings estimates

 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

Electronic Arts (EA) Q4 earnings drop and miss estimates; revenue down 3%

Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings

What lies in store for Tyson Foods (TSN) this year?

Shares of Tyson Foods Inc. (NYSE: TSN) were in green territory during afternoon hours on Tuesday. The stock has gained 32% over the past 12 months and 23% since the

Virgin Galactic (SPCE) fails to impress market amid looming uncertainty

Space tourism company Virgin Galactic Holdings, Inc. (NYSE: SPCE) ended the first quarter of 2021 without generating revenue and continued the losing streak even as uncertainty over its test flight

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top