SAN FRANCISCO (AP) — The Walt Disney Co. on Wednesday posted stronger-than-expected earnings for the final three months of 2023, boosted by cost cuts and growing revenue from its theme parks business. CEO Bob Iger said the company is on track to make its streaming services profitable.

Is Disney performing well financially?

Revenues for the quarter were comparable to the prior-year quarter at $23.5 billion. Diluted earnings per share (EPS) for the quarter increased to $1.04 from $0.70 in the prior-year quarter. Excluding certain items⁽¹⁾, diluted EPS for the quarter increased to $1.22 from $0.99 in the prior-year quarter.

Is Disney doing well as a company?

Adjusted earnings, which stripped out the charges and other items, were $1.21 per share, easily beating the $1.12 per share that analysts polled by Zacks Investment Research predicted. Disney said that due to its second-quarter performance, it now has a full-year adjusted earnings per share growth target of 25%.

Is Disney still making a profit?

Disney's entertainment direct-to-consumer business, encompassing Disney+, Hulu and Disney+ Hotstar, turned a profit in the quarter: Operating income was $47 million (compared with a loss of $587 million a year ago) on revenue of $5.64 billion (up 13%) for the period, which was the company's Q2 of fiscal 2024.

How is Disney doing economically?

Walt Disney World Resort—one of the world's most popular vacation destinations—generated $40 billion in economic impact across the state of Florida and more than a quarter of a million total jobs in fiscal year 2022. That's according to a new study from Oxford Economics, which was announced on Tuesday.

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Is Disney in any debt?

What Is Walt Disney's Net Debt? The chart below, which you can click on for greater detail, shows that Walt Disney had US$47.7b in debt in December 2023; about the same as the year before. However, it does have US$7.19b in cash offsetting this, leading to net debt of about US$40.5b.

Why is Disney's net income down?

The company took an impairment charge of about $2 billion in the fiscal second quarter related to the India deal and to its traditional television networks. That nudged the company to a loss of $20 million after reporting net income of $1.27 billion a year earlier.

Is Disney losing money in 2024?

Walt Disney (NYSE:DIS) Second Quarter 2024 Results

Revenue: US$22.1b (up 1.2% from 2Q 2023). Net loss: US$20.0m (down by 102% from US$1.27b profit in 2Q 2023).

How rich would Walt Disney be today?

Walt Disney's net worth at the time of his death: A reflection of his enduring legacy. When Walt Disney passed away in 1966, he left behind an empire worth an estimated between $100 million and $150 million, which is equivalent to about $750 million to $1.1 billion today when adjusted for inflation.

Who profits the most from Disney?

Entertainment is the largest segment for Disney thanks to its robust streaming business. Following closely behind is Disney's experiences revenue, which is quickly growing with a 7% increase year over year in the first quarter of 2024.

Can Disney ever recover?

If the company can deliver on projected cost cuts and streaming profitability, and even manage a few box office hits surpassing $1 billion – something Disney releases did with ease in the past – the market's perception of the company should change, and the stock will eventually recover.

Who is Walt Disney's biggest competitor?

Who Is Disney's Biggest Competitor? Naming Disney's biggest rivals depends on the business unit. If you're looking at film and television, its rivals include Universal (which is owned by Comcast), Sony, Time Warner, and ViacomCBS. Netflix and Amazon are Disney's main competitors in the streaming service space.

What is the long term outlook for Disney?

Future Growth

Walt Disney is forecast to grow earnings and revenue by 32.6% and 4.7% per annum respectively. EPS is expected to grow by 31% per annum. Return on equity is forecast to be 10.1% in 3 years.

What is Disney's biggest earner?

Disney's Linear Networks currently generates the most revenue, but its Parks, Experiences and Products business is recovering from the COVID-19 pandemic and currently generates the most profits. Disney's domestic theme parks and resorts have been reopened gradually and no longer face mandatory capacity restrictions.

Are Disney employees treated well?

A 2018 study by Occidental College and the Economic Roundtable looked at working conditions for employees at Disneyland — the company's original park, in Anaheim, Calif. — and found that more than half worried about being evicted from their homes, and more than one in 10 had been homeless in the last two years.

Is the CEO of Disney a billionaire?

According to Forbes, Iger's estimated net worth was about $690 million as of 2019.

What person owns most of Disney?

Vanguard Group – 151,443,502 – 8.25%

On March 11, 2024, Vanguard Group filed an SEC report disclosing ownership of 151,443,502 shares of The Walt Disney Company for the fourth quarter of 2023. This represented 8.25% ownership of the company, making Vanguard the largest shareholder of Disney.

Who inherited Walt Disney's fortune?

When Walt died from lung cancer in 1966, he left behind a huge fortune for his two daughters Sharon and Diane, as well as his many grandchildren. Walt and his wife, Lillian, lived in an $8.5million (£6.9million) home in Los Angeles. The home's value soared to over £70million after renovations made by another owner.

Is it true that Disney is losing money?

Despite this, Disney+ has burned up more than $11.4 billion of operating losses since it was launched and isn't forecast to even make a profit until the end of the year. It would have been so easy to prevent this from happening.

How is Disney+ doing financially?

Disney Streaming Comes Close to Profitability in Latest Quarter, Disney+ Subscribers Surge. The Bob Iger-led company's combined streaming business only lost $18 million in the quarter, as Charter's new deal with the company caused subs to rise and average revenue per user to fall.

How much long term debt does Disney have?

Total debt on the balance sheet as of December 2023 : $47.69 B. According to Walt Disney's latest financial reports the company's total debt is $47.69 B. A company's total debt is the sum of all current and non-current debts.

Why is Disney struggling financially?

CEO Bob Iger suggested on a call with investors that the cuts would come primarily from its struggling linear TV business. Meanwhile, the company continues to lose money in its Disney+ streaming business, but it managed to significantly reduce its losses in that division. It has never turned a profit on Disney+.

Why is Disney unprofitable?

Disney still relies on old-line channels like ESPN and ABC for roughly a third of its operating profits — and those outlets are being maimed by cord cutting, sports programming costs and advertiser pullback.

Is Disney losing popularity?

The Disney Channel was extremely popular during my younger years, with its peak number of viewers in the US being 1.96 million in 2014 (Statista). However, from 2014-2020, the number of viewers dropped to 360,000, losing about 88.1% of the audience (Statista).