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4d ago

Disney Exceeds Q2 Earnings Expectations with Streaming, Parks, and Sports Driving Growth

The company reported $23.6 billion in revenue and $1.45 adjusted EPS, beating forecasts, while boosting streaming subscribers and theme park income.

FILE - People visit the Magic Kingdom Park at Walt Disney World Resort in Lake Buena Vista, Fla., April 18, 2022. (AP Photo/Ted Shaffrey, File)
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A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid

Overview

  • Disney reported a 7% year-over-year revenue increase to $23.6 billion, surpassing analyst expectations of $23.14 billion.
  • Adjusted earnings per share reached $1.45, exceeding the forecasted $1.20, as strong performance in key divisions fueled growth.
  • The streaming division added 1.4 million Disney+ and 1.1 million Hulu subscribers, with operating income rising to $336 million, up from $47 million a year earlier.
  • Theme park and experiences income grew 9% to $2.5 billion, driven by increased U.S. park attendance, higher guest spending, and strong cruise bookings.
  • Sports division ad revenue surged 29%, bolstered by an expanded College Football Playoff and additional NFL game, contributing to investor optimism and a 6% stock jump in premarket trading.