The “Partners” statue of Walt Disney and Mickey Mouse in the Magic Kingdom’s Cinderella Castle at Walt Disney World in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023.
Joe Burbank Tribune News Service | getty images
disney It reports its fiscal second-quarter earnings before the bell on Tuesday, and analysts will focus on the company’s streaming subscriber growth and outlook as well as visitation numbers at its theme parks.
It’s been more than a year since CEO Bob Iger’s announcement Reconstruction This changed the company’s structure, eliminating thousands of jobs and cutting costs by $5.5 billion. This will also be Disney’s first earnings call after this it won A proxy battle against Nelson Peltz’s Trian partners.
According to LSEG, Wall Street expects Disney to report Tuesday morning:
- Earnings per share: $1.10 expected
- Revenue: $22.11 billion expected
Subscriber growth will once again be a top focus on its flagship streaming service, Disney+. BofA Securities analyst Jessica Reiff Ehrlich Said Streaming is expected to impact profitability in the fourth quarter of 2024, he said Monday on CNBC’s “Squawk Box.”
Last quarter Losses at Disney’s direct-to-consumer unit — which also includes Hulu and ESPN+ — narrowed to $216 million, down from $1.05 billion in the same period a year earlier.
The company reported in February that Disney+ core subscribers declined by 1.3 million during the quarter compared to the previous quarter due to price increases, although the company said it saw an increase in average revenue per user for the same reason.
Wall Street will also be on the lookout for updates regarding integration The status of Hulu in Disney+, as well as the rating Process This will determine the value of Comcast’s stake in Hulu.
Visitor traffic to Disney’s theme parks in the US will also be in focus. Growth had begun to slow last year, in part due to low numbers in Orlando, according to a Deutsche Bank research note on Monday.
comcast recently informed of Its Universal Orlando theme park has suffered a downturn, especially in the face of increasing competition from cruises. Analyst Ralph Ehrlich said this could work in Disney’s favor, since it has a new cruise ship.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.
This is breaking news. Please check back for updates.