Disney stock

Walt Disney DIS +0.13% stock jumped on Wednesday after the entertainment giant topped earnings expectations, while also announcing it was planning to cut ...

Sales of $23.51 billion was a touch above estimates of $23.45 billion. Disney reported non-GAAP earnings of 99 cents a share, ahead of estimates of 78 cents a share, according to FactSet. Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs.

In the company's first earnings report since Bob Iger returned as C.E.O., it exceeded Wall Street's expectations. But about 7000 jobs are expected to be ...

Each will now be viewed outside the company as a potential successor to Mr. In the restructuring, Mr. 8, Disney began charging $11 for a monthly subscription to the ad-free version of Disney+, up from $8, a 38 percent increase. Iger said new “Toy Story,” “Zootopia” and “Frozen” sequels were in the pipeline, for instance. But the company “might have gotten a bit too aggressive” in marketing the service around the world, he added. Losses in Disney’s streaming division totaled $1.1 billion in the quarter that ended in late December. Total hookups in the United States declined by a record 6.2 percent from October to December. Underscoring the importance of streaming to Disney’s future, operating profit from traditional television (the ABC broadcast network and 15 cable channels, led by ESPN) totaled $1.3 billion in the quarter, a 16 percent decrease from a year earlier. [much of Disney was closed](https://www.nytimes.com/2020/05/04/business/media/coronavirus-disney.html)) and do a much better job at succession planning. [fired Bob Chapek](https://www.nytimes.com/2022/11/21/business/media/disney-bob-iger.html) as chief executive and reinstated Mr. “We did not do it for that purpose,” Mr. Content production and distribution, including streaming, will be housed in a single division (instead of two, which were sometimes at odds), with the exception of sports.

Disney beats expectations as streaming subscriber losses aren't as bad as feared · Disney reported fiscal first-quarter earnings that beat on the top and bottom ...

A recent price hike for Disney's streaming services likely led to the loss of around 2.4 million Disney+ subscribers during the quarter. Disney suspended its dividends in early 2020 due to the pandemic. A little more than $6 billion of that revenue came from its theme park locations. Revenue rose 8% to $23.51 billion from $21.82 billion a year ago. In the most recent quarter, the operating loss was $1.05 billion, narrower than the $1.2 billion Wall Street had predicted. Even the streaming space has been difficult to navigate in recent quarters, as expenses have swelled and consumers become more cost conscious about their media spending. The company will now be made up of three divisions: vs 78 cents per share expected, according to a Refinitiv survey of analysts Additionally, Iger said the company will ask its board to approve the reinstatement of its dividend by the end of the calendar year. A bright spot for Disney came from its parks, experiences and products divisions, which saw a 21% increase in revenue to $8.7 billion during the most recent quarter. - A recent price hike for Disney's streaming services likely led to the loss of around 2.4 million Disney+ subscribers during the quarter. With CEO Bob Iger back at the helm, Disney is seeking to make a "significant transformation" of its business by reducing expenses and putting the creative power back in the hands of its content creators.

Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn't considering a spinoff of ESPN.

[Iger sent a memo](https://www.cnbc.com/2022/11/21/kareem-daniel-disney-head-of-media-and-chapeks-right-hand-is-out-following-igers-return.html) to employees announcing the business would be reorganized, particularly the Disney Media and Entertainment unit. The goal would be to have a new structure in place in the coming months, with elements of DMED remaining, CNBC reported. "We're not engaged in any conversations or considering a spinoff of ESPN," Iger said on Wednesday. "I have always believed that the best way to spur great creativity is to make sure the people who are managing the creative processes feel empowered." ESPN Chairman Jimmy Pitaro will lead the ESPN segment, while Josh D'Amaro, already the head of Disney's parks, experiences and products segment, will remain in control. Iger addressed speculation that the company may look to spin out ESPN due to the sports network being siloed into its own unit. The announcements also come as Disney engages in a [proxy fight](https://www.cnbc.com/2023/01/17/disney-defends-iger-says-activist-peltz-has-no-track-record-in-big-media-.html) with activist investor Nelson Peltz and his firm Trian Management. [considered contenders](https://www.cnbc.com/2022/12/04/disney-ceo-top-contenders-succeed-bob-iger.html) to take over for Iger in less than two years. That would be about 3% of the roughly 220,000 people it employed as of Oct. Discovery](/quotes/WBD/), have been pulling back on content spending and looking to make their streaming businesses profitable. Heightened competition has led to slowing subscriber growth, and companies have been looking to find new avenues of revenue growth. Disney announced the changes minutes after it

By Jon Swartz and Jeremy C. Owens. Amid activist attack, Disney beats on profit and revenue thanks to gains at theme parks, but Disney+ subscriber count ...

(CMCSA), Paramount Global (PARA) and others. (WBD), Amazon.com Inc. Disney's largest business segment, media and entertainment distribution, reported sales of $14.78 billion in the quarter, up slightly from $14.59 billion a year ago; analysts on average predicted $15.4 billion. (AAPL), Netflix Inc. (AMZN), Comcast Corp. (NFLX), Warner Bros. Analysts expected the subscriber count to decline after Disney increased costs for ad-free streaming while adding an ad-supported option, but not that much -- the average analyst estimate called for 162.68 million subscribers, according to FactSet. Disney (DIS)posted fiscal first-quarter net income of $1.28 billion, or 70 cents a share, on sales of $23.51 billion, up from $21.8 billion a year ago. The average analyst estimate was $6.6 billion. "After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises," Iger, who returned as CEO in November to replace Bob Chapek, said in a statement announcing the results. The news sent Disney shares up 9% in after-hours trading. They ended the regular session up 0.1% at $111.75.

Walt Disney Company (NYSE: DIS) was trading flat Wednesday heading into its first-quarter financial report after the market closes.

- The steep surge north paired with the consolidation has settled Disney in a bull flag pattern on the daily chart. The Disney Chart: Disney reversed course into a steep uptrend on Dec. From a technical analysis perspective, Disney’s stock looks set to trade higher over the coming days because the stock has settled into a bull flag pattern on the daily chart. Traders and investors will be watching closely to see whether Disney has been able to continue growing Disney+ subscribers in the wake of Netflix reporting new subscriber figures that [came in ahead of analyst estimates](https://www.benzinga.com/analyst-ratings/analyst-color/23/01/30505516/netflix-analysts-are-raising-price-targets-after-q4-beat-even-the-ones-with-sell-an). For the fourth quarter, Disney reported adjusted earnings of 30 cents per share on revenue of $20.5 billion. The new price target suggests about 10% upside for Disney.

Disney CEO Bob Iger outlined his plan to turn around the entertainment behemoth in his first quarterly earnings call since his return, laying out a plan to ...

[lauded](https://www.forbes.com/sites/dereksaul/2022/11/21/disney-shares-jump-9-on-return-of-bob-igers-magic/?sh=22a23ff38b2f) Iger’s November 20 return as a way for the company to rediscover its massive profit-making ways as the firm struggled under Bob Chapek, who initially succeeded Iger as Disney’s top decision-maker in February 2020. [campaign](https://www.ft.com/content/78adc493-8d32-401f-afff-2dc3757c5c3c) last year for Disney to divorce itself from the legacy sports media subsidiary, before backing off of his demand. Much of Iger’s current tenure has dealt with a high-profile [proxy battle](https://www.forbes.com/sites/dereksaul/2023/01/12/heres-why-investors-are-bullish-on-disney-despite-its-proxy-fight-with-billionaire-peltz/?sh=d3fdd5e4220f) with billionaire Nelson Peltz, whose Trian hedge fund disclosed last month it took a 0.5% stake in Disney. Meanwhile, KeyBanc Capital Markets analyst Brandon Kispel wrote Sunday that ESPN’s “profitability may never grow again,” indicating upside to a sale for future Disney growth prospects. [DeSantis Set To Control Disney World’s Special District Under New Bill—Here’s What It Would Do](https://www.forbes.com/sites/alisondurkee/2023/02/08/desantis-set-to-control-disney-worlds-special-district-under-new-bill-heres-what-it-would-do/?sh=6b9ab90f88cd) (Forbes) [Disney Shares Jump 10% On Return Of Bob Iger’s ‘Magic’](https://www.forbes.com/sites/dereksaul/2022/11/21/disney-shares-jump-9-on-return-of-bob-igers-magic/?sh=22a23ff38b2f) (Forbes) [Disney Drops ‘Simpsons’ Episode In Hong Kong Alluding To ‘Forced Labor’ In China](https://www.forbes.com/sites/dereksaul/2023/02/06/disney-drops-simpsons-episode-in-hong-kong-alluding-to-forced-labor-in-china/?sh=b5c61eb6a290) (Forbes) [Here’s Why Investors Are Bullish On Disney Despite Its Proxy Fight With Billionaire Peltz](https://www.forbes.com/sites/dereksaul/2023/01/12/heres-why-investors-are-bullish-on-disney-despite-its-proxy-fight-with-billionaire-peltz/?sh=d3fdd5e4220f) (Forbes) The ongoing proxy battle between Peltz and Disney will come to a head at the company’s annual shareholder meeting April 3, when shareholders will vote on Peltz’s hostile bid to take a seat on the company’s board. [primary focus](https://www.reuters.com/business/media-telecom/disney-ceo-bob-iger-calls-drive-make-streaming-profitable-priority-2022-11-28/) is on achieving profitability in the division as opposed to adding subscribers. Disney lost $1.05 billion last quarter in its direct-to-consumer business, beating the consensus estimate of a $1.2 billion loss, a downtick from its $1.5 billion loss in the prior quarter but a massive widening of losses from its $593 million loss during the same time period in 2021. Iger said in the call he hopes for Disney to pay out dividends to shareholders by the end of 2023 after a three-year pause on dividends, causing shares to spike as much as 9% in after hours trading. [reporting](https://thewaltdisneycompany.com/app/uploads/2023/02/q1-fy23-earnings.pdf) $23.51 billion in revenue and $1.3 billion in net income, or $0.99 per share, in the three-month period ending January 1; that exceeds consensus analyst estimates of $23.44 billion in sales and $0.78 in earnings per share, according to FactSet. The company booked $7.3 billion in sales from its linear television business including ABC and ESPN, $8.7 billion in sales for its parks and experiences division, and, perhaps most crucially to investors, the company posted $5.3 billion in revenue in its direct-to-consumer segment including its Disney+, Hulu and ESPN+ services. Disney CEO Bob Iger outlined his plan to turn around the entertainment behemoth in the first quarterly earnings call since his return, laying out a plan to save $5.5 billion by eliminating about 7,000 jobs and restructuring the company into three divisions—Entertainment, Parks and ESPN—even as the company reported strong financial results.

Drops 2.4 million in fourth quarter, more than analysts had projected. But Bob Iger explained during the earnings call that subscribers in the U.S. and ...

After that setback, Disney had lowered growth projections for the Disney+ Hotstar service and prepped investors for a decline, though it was a bit more than the company thought. The streamer launched its own ad-supported tier in December, but executives said during the call there hadn’t been a “meaningful financial impact” from it yet, though they were happy with the initial results. Subscriptions were up by 200,000 in the U.S. Iger addressed the Disney+ subscriber drop amid other questions about concerns that led to Chapek’s dismissal. Last year, it suffered a massive setback when it lost streaming rights to The news was expected, though

Bob Iger returned to Disney's earnings stage and delivered a big beat, largely thanks to theme parks, but Disney+ subscribers declined more than expected.

-2.02% [CMCSA,](/investing/stock/CMCSA?mod=MW_story_quote), Paramount Global -2.29% [PARA,](/investing/stock/PARA?mod=MW_story_quote)and others. +1.07% [WBD,](/investing/stock/WBD?mod=MW_story_quote), Amazon.com Inc. -5.02% [AMZN,](/investing/stock/AMZN?mod=MW_story_quote), Comcast Corp. [NFLX,](/investing/stock/NFLX?mod=MW_story_quote), Warner Bros. [AAPL, -1.77%](/investing/stock/AAPL?mod=MW_story_quote), Netflix Inc. Disney’s largest business segment, media and entertainment distribution, reported sales of $14.78 billion in the quarter, up slightly from $14.59 billion a year ago; analysts on average predicted $15.4 billion. Analysts expected the subscriber count to decline after Disney increased costs for ad-free streaming while adding an ad-supported option, but not that much — the average analyst estimate called for 162.68 million subscribers, according to FactSet. After adjusting for restructuring charges, amortization and other effects, Disney reported earnings of 99 cents a share, up from 63 cents a share a year ago. “We believe the work we are doing to reshape our company around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, better position us to weather future disruption and global economic challenges, “We forecast the company reducing leverage to levels appropriate for its A2 rating by approximately the end of calendar 2024.” The payouts were stopped abruptly during the COVID pandemic to conserve cash. The major reorg news sent Disney shares up more than 5% in after-hours trading.

By Jon Swartz and Jeremy C. Owens. Amid activist attack, Disney beats on profit and revenue thanks to gains at theme parks, but Disney+ subscriber count ...

(CMCSA), Paramount Global (PARA) and others. (WBD), Amazon.com Inc. (AAPL), Netflix Inc. Disney's largest business segment, media and entertainment distribution, reported sales of $14.78 billion in the quarter, up slightly from $14.59 billion a year ago; analysts on average predicted $15.4 billion. (AMZN), Comcast Corp. (NFLX), Warner Bros. Analysts expected the subscriber count to decline after Disney increased costs for ad-free streaming while adding an ad-supported option, but not that much -- the average analyst estimate called for 162.68 million subscribers, according to FactSet. Disney (DIS)posted fiscal first-quarter net income of $1.28 billion, or 70 cents a share, on sales of $23.51 billion, up from $21.8 billion a year ago. The average analyst estimate was $6.6 billion. "After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises," Iger, who returned as CEO in November to replace Bob Chapek, said in a statement announcing the results. The news sent Disney shares up 9% in after-hours trading. They ended the regular session up 0.1% at $111.75.

Shares of Disney rose after the company reported better-than-expected quarterly earnings and announced it would cut about 7000 jobs. The layoffs are part of ...

Analysts expected $23.44 billion.\n\nRead more about Disney's results here. Analysts expected 78 cents per share\nRevenue of $23.51 billion.

Revenue: $23.51 billion versus $23.4 billion expected. Adj. earnings per share (EPS): $0.99 versus $0.75 expected. Disney+ total subscribers: 161.8 million ...

Walt Disney shares surged higher Thursday after returning CEO Bob Iger unveiled a raft of changes at the media and entertainment group as it fends off an ...

Plus, while ESPN+ and Hulu continued to grow, they both added fewer users than what markets had hoped for. Disney+ lost subscribers for the first time ever in ...

The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. Markets have welcomed the new plan outlined by Disney to make streaming profitable and improve the overall efficiency of the business considering the stock has jumped higher. Investors will hope that the $113 level of resistance can now turn to support if it comes under renewed pressure, although the November peak of $107.60 remains in play. This will be up from the $4.9 billion spent in the last financial year and the $3.6 billion spent in the year before that. With this in mind, Disney is not waiting to find his successor and has already established a succession planning committee that will consider both internal and external candidates. Trian, the company that Peltz owns his stake through, said it was ‘pleased Disney is listening’ after the update, suggesting the company has made headway in winning him over. It can now look to recapture the closing-peak seen in mid-August at $125. Disney was among a raft of companies that were forced to stop paying a dividend when the pandemic derailed its business, particularly the experience-based operations centred on theme parks and resorts. Iger, who is 71 years of age, has already made a big impact with his return and installed confidence that he can replicate the success delivered during his first stint at the company. That is important as it suggests any payout could come not this financial year but early in the next one. The company said it plans to make streaming profitable by rationalising the amount being spent on content, cutting other costs in the business, growing subscribers, and optimising prices while also driving its newer ad-supported tier. ‘After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises,’ Iger said.

Shares of Disney are surging Thursday, after the company behind Mickey Mouse reported better-than-expected quarterly earnings and said it would cut about ...

Shares of Disney surged early Thursday, then lost steam, after the company behind Mickey Mouse reported better-than-expected quarterly earnings and said it would cut about 7,000 jobs.\n\nThe stock retreated later in the morning after activist investor Nelson Peltz said he is calling off his proxy fight with the media giant. Iger separately said Disney may not be interested in buying the remainder of streaming-service company Hulu it doesn't already own.\n\nRead more about_ Disney's results here_. Analysts expected $23.44 billion.\n\nMr.

"We are focused on the success of our streaming business and the return it generates for our shareholders long into the future," said CEO Bob Iger.