DIS - Walt Disney Q2 Earnings: Profit Beat Moderating Parks Growth Password-Sharing Crackdown And More | Benzinga
Walt Disney Co (NYSE:DIS) shares are trading lower Tuesday following the second-quarter earnings.
The company reported revenue growth of 1% year-on-year to $22.08 billion, marginally missing the consensus of $22.11 billion. Adjusted EPS of $1.21 beat the consensus of $1.09.
Segments: Entertainment revenue declined by 5% year over year to $9.8 billion. Sports revenue grew 2% year over year to $4.3 billion. Experiences revenue climbed 10% year over year to $8.4 billion.
In its conference call, the company said that Parks’ growth is moderating from peak post-COVID levels.
In the Entertainment segment, Linear Networks revenue declined by 8% year over year to $2.8 billion, Direct-to-Consumer revenue climbed 13% year over year to $5.6 billion, and Content Sales/Licensing and Other revenue declined by 40% year over year to $1.4 billion.
The consolidated operating income grew by 17% year over year to $3.8 billion as the company’s entertainment streaming applications, ...