DIS - Disney Q1 earnings are out: here are the numbers

2024-02-07 16:08:48 ET

Walt Disney Co (NYSE: DIS) is trading up in extended hours on Wednesday after reporting better-than-expected per-share earnings for its fiscal first quarter.

How did DTC perform in Q1?

Also a positive for the entertainment conglomerate was its DTC loss that narrowed further to $138 million in Q1 versus million expected.

This is a developing story. Numbers that are missing below will be updated as received!

Direct-to-consumer generated billion worth of sales in the recently concluded – also ahead of estimates. Bob Iger – the chief executive of Disney said in a press release today:

Disney+ lost 1.3 million subscribers in the first quarter due to price increases. Wall Street currently has a consensus “overweight” rating on .

Disney Q1 earnings snapshot

Earned million versus the year-ago million

Per-share earnings also climbed from to

Adjusted EPS printed at $1.22 as per the press release

Revenue jumped % year-over-year to $23.55 billion

Consensus was 99 cents a share on $23.64 billion in revenue

The earnings release arrives a day after ESPN said it was partnering with Warner Bros. Discovery and Fox to launch a joint sports streaming platform later this year. CEO Iger also said on Wednesday:

What else was noteworthy?

Other notable figures in the earnings report include billion in theme parks, experiences, and product sales.

Media and entertainment – the largest segment of Disney brought in billion while television networks and content sales and licensing were up % in the recently concluded quarter.

All three segments topped experts’ forecast and were ahead of Street estimates. Disney stock is now up well over 15% versus its year-to-date low.

Note that the Walt Disney Co is currently in a proxy fight with Nelson Peltz ( read more ) even after it raised its cost cutting target by a whopping $2.0 billion announced plans of investing some $60 billion in its theme parks segment.

Disney confirmed that it’s on course to “meet or exceed” its goal of trimming at least $7.5 billion in costs by the end of this financial year.

The New York listed firm raised its earnings guidance for fiscal 2024 today to $4.60 a share – up at least 20% on a year-over-year basis.

This is a developing story. Check back in a few minutes for more updates!

The post Disney Q1 earnings are out: here are the numbers appeared first on Invezz