Walt Disney Shares Jump 11% Following Q1 Results
Walt Disney Shares Jump 11% Following Q1 Results

Walt Disney Shares Jump 11% Following Q1 Results

Feb. 8, 2024, 3:25 p.m., readers: 14

Walt Disney (NYSE:DIS) updated its annual forecast positively following better-than-expected fiscal first-quarter earnings, attributed to effective cost reductions within its streaming operations. The company's shares rose more than 11% intra-day today after the announcement. Walt Disney disclosed an adjusted earnings per share (EPS) of $1.22 against revenues of $23.55 billion for the quarter, compared to the EPS of $1 on revenues of $23.75 billion predicted by analysts. The improvement in earnings is largely due to the company's successful cost-cutting strategy, which saved more than $500 million across its operations in the first quarter alone. Disney is confident in achieving its goal of $7.5 billion in annualized savings by the end of fiscal 2024. Looking forward, Disney revised its expectations for the full fiscal year of 2024, now anticipating at least a 20% increase in adjusted EPS compared to 2023, aiming for about $4.60. For the second quarter, Disney's streaming service, Disney+, is expected to see net additions of core subscribers ranging between 5.5 million to 6 million, according to the company's projections.


T he Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. The company engages in the film and episodic television content production and distribution activities, as well as operates television broadcast networks under the ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star brands;

Price: 106.76
Market cap: 195.8 billion USD
Eps: 1.63
P/e ratio: 65.50
Terminal Research: DIS