PEP - Disney Is Finally Getting Back To Business After Fixing Its Issues | Benzinga
On Wednesday, The Walt Disney Company (NYSE: DIS) reported its fiscal fourth quarter results that topped profit estimates. The results followed the news of its commitment to purchase 33% stake of Hulu from Comcast Corporation (NASDAQ: CMCSA) as well as the official reveal of the new CFO, PepsiCo Inc (NASDAQ: PEP) veteran Hugh Johnston. Following Disney’s better-than-expected results, its perhaps biggest problem got resolved with the ending of the historic SAG-AFTRA strike.
Hollywood Actors Won The Corporate Battle
The SAG-AFTRA ended the 118-day work stoppage as its negotiating committee unanimously approved the deal with Walt Disney, Netflix Inc (NASDAQ: NFLX) and others. Valued at more than $1 billion, the SAG-AFTRA gained the three-year contract increases in minimum salaries and a new bonus that will be paid by streaming providers, while also gaining protection for performers who feared being replaced by digital doubles through the unauthorized use of AI-generated images.
Quarterly Highlights
For the quarter ended on September 30th, Disney reported revenue rose 5% of $21.24 billion, which was a bit short of LSEG’s estimate of 21.33 billion while earning a net income of $264 million. Adjusted earnings amounted to 82 cents a share, topping LSEG’s estimate of 70 ...