Disney Q4 adjusted profit tops estimates on strong results from entertainment unit, streaming

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Disney Q4 adjusted profit tops estimates on strong results from entertainment unit, streaming

Associated Press Finance11-14

Disney's fourth-quarter adjusted profit beat Wall Street's expectations, bolstered by strong results from company's entertainment business and its streaming service. Disney earned $460 million, or 25 ...

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A year earlier the Burbank, California-based company earned $264 million, or 14 cents per share.Operating income for the entertainment segment, which includes its movie studio and parts of its television wing, more than quadrupled to $1.07 billion.The Walt Disney Co. said Thursday that its direct-to-consumer business, which includes Disney+ and Hulu, reported quarterly operating income of $253 million compared with an operating loss of $420 million a year earlier. Revenue rose 15% to $5.78 billion.Disney said that its improved direct-to-consumer business results were due in part to subscription revenue growth thanks to increased in retail pricing and subscriber growth. Advertising revenue also increased and marketing costs at Disney+ declined.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4550":"红杉资本持仓","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","BK4551":"寇图资本持仓","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4561":"索罗斯持仓","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4581":"高盛持仓","SG9999015978.USD":"利安颠覆性创新基金A","BK4504":"桥水持仓","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0971096721.USD":"富达环球金融服务 A","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","BK4127":"投资银行业与经纪业","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4516":"特朗普概念","DIS":"迪士尼","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4108":"电影和娱乐","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4585":"ETF&股票定投概念","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4524":"宅经济概念","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD"},"translate_title":"迪士尼第四季度调整后利润超出预期，娱乐部门和流媒体业绩强劲","themeId":"3d3dab0048da29d5ca443fd3a625ee56","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DIS":1},"content_text":"Disney's fourth-quarter adjusted profit beat Wall Street's expectations, bolstered by strong results from company's entertainment business and its streaming service.\nDisney earned $460 million, or 25 cents per share, for the period ended Sept. 28. A year earlier the Burbank, California-based company earned $264 million, or 14 cents per share.\nRemoving certain items, earnings were $1.14 per share. This topped the $1.09 per share that analysts surveyed by Zacks Investment Research were looking for. \nShares jumped nearly 7% before the market open on Thursday.\nRevenue climbed 6% to $22.57 billion, but fell a bit short of Wall Street's estimate of $22.59 billion. \nOperating income for the entertainment segment, which includes its movie studio and parts of its television wing, more than quadrupled to $1.07 billion.\nThe Walt Disney Co. said Thursday that its direct-to-consumer business, which includes Disney+ and Hulu, reported quarterly operating income of $253 million compared with an operating loss of $420 million a year earlier. Revenue rose 15% to $5.78 billion. \nThe combined streaming businesses, which includes Disney+, Hulu and ESPN+, achieved profitability for the first time in the third quarter. \nDisney said that its improved direct-to-consumer business results were due in part to subscription revenue growth thanks to increased in retail pricing and subscriber growth. Advertising revenue also increased and marketing costs at Disney+ declined.\n\"This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future,” CEO Bob Iger said in a statement.\nThe Experiences division, which includes six global theme parks, its cruise line, merchandise and videogame licensing, reported operating income dropped 6% to $1.7 billion. While operating income improved at domestic parks and Experiences, it fell for international parks and Experiences. \nDisney previously forecast that its fourth-quarter Experiences operating income would fall by mid single digits compared with the prior-year period due to domestic parks moderation as well as cyclical softening in China and less people at Disneyland Paris due to the impact the Olympics had on normal consumer travel.\nLooking ahead, Disney anticipates high-single digit adjusted earnings per share growth for fiscal 2025. The company predicts double digit earnings per share growth for fiscal 2026 and 2027.\nLast month Disney said that it was tapping Morgan Stanley executive James Gorman to serve as its next chairman, beginning early next year. The entertainment giant also announced that it anticipates naming its new CEO in early 2026.\nGorman will become chairman on Jan. 2, 2025. He will succeed Mark Parker, who is leaving after serving on Disney’s board for nine years.\nDisney is searching for a new CEO to succeed Bob Iger. Iger came back to Disney in 2022 after a period of clashes, missteps and a weakening financial performance at the company under his chosen successor, Bob Chapek.\nGorman said in a statement in October that by naming Disney’s next CEO in 2026, it “will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026.”\nDisney is continuing to review internal and external candidates for the CEO position.\nIn April shareholders rebuffed efforts by activist investor Nelson Peltz to claim seats on the company board, standing firmly behind Iger as he tries to energize the company after a rough stretch.\nIn June Disney asked a federal appellate court to dismiss its lawsuit against Florida Gov. Ron DeSantis after his appointees approved a deal with the company on how Walt Disney World will be developed over the next two decades, ending the last piece of conflict between the two sides.\nAs part of the 15-year deal, Disney agreed to invest $17 billion into Disney World over the next two decades and the district committed to making infrastructure improvement on the theme park resort’s property.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}