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 Hormel Foods (HRL) reports Q4 2023 earnings
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 1% on Monday. The stock has dropped 29% year-to-date. The food company is set to report its fourth quarter 2023 earnings
Kroger set to report Q3 results. Here’s everything you need to know
The Kroger Co. (NYSE: KR), a leading grocery retailer that operates both in-store and online, will be reporting earnings this week. The company, which is preparing to acquire rival retailer
Earnings Preview: Salesforce will likely deliver another strong quarter
Salesforce, Inc. (NYSE: CRM) achieved accelerated sales growth and profitability in recent quarters, in line with its transformation goal. The customer relationship management platform bets on new opportunities in generative