Disney earnings beat as streaming profit tops estimates

Published On Nov 14, 2024, 6:40 AM

Disney reported better-than-expected earnings for its fiscal fourth quarter, with adjusted earnings per share of $1.14, beating the $1.10 consensus estimate. The company's total revenue reached $22.57 billion, also surpassing expectations. A significant driver of this success was Disney's direct-to-consumer streaming segment, which achieved an operating income of $321 million, marking a turnaround from a $387 million loss last year. Disney forecasts continued growth in this area, projecting DTC operating income of approximately $875 million for fiscal 2025. Despite challenges in its theme parks segment, which saw a drop in international income, domestic park operations improved. Disney plans to buy back $3 billion in stock and aims for high single-digit adjusted EPS growth in 2025, further indicating bullish confidence in long-term growth.