Disney stock jumps as earnings, streaming profit, and guidance top estimates

Published On Nov 14, 2024, 11:59 AM

Disney's stock surged after the company reported strong fiscal Q4 earnings that exceeded analysts' expectations. Adjusted earnings per share were $1.14, surpassing the $1.10 forecast, and revenue reached $22.57 billion, higher than the anticipated $22.47 billion. Notably, Disney's direct-to-consumer streaming business became profitable for the first time, contributing to overall optimism. The company provided strong future guidance, anticipating significant earnings growth over the next few years. In contrast, the parks division faced challenges, particularly in international markets, where revenue fell. Overall, Disney expects continued growth in adjusted earnings and stock repurchases in the next fiscal year.