Quarterly financial reports of major entertainment companies

Disney Stock Soars 10% as 'Deadpool & Wolverine' Drives Q4 Earnings and Streaming Profit

Nov 14, 2024, 11:57 AM

Disney has released 'Deadpool & Wolverine' on Disney+, following its record-breaking performance in theaters over the summer where it earned $1.3 billion worldwide to become the highest-grossing R-rated movie in history. The film has also become the highest-grossing physical media release of 2024 in just three weeks. Additionally, 'Assembled: The Making of Deadpool & Wolverine' is now streaming on Disney+, providing fans with behind-the-scenes insights. The releases have contributed to Disney's strong fourth-quarter earnings, with the company reporting adjusted earnings per share of $1.14, surpassing analyst expectations of $1.10. Revenue increased by 6% year-over-year to $22.6 billion, exceeding estimates of $22.5 billion. Disney's streaming business reported a profit of $321 million in the quarter, a significant turnaround from a loss in the same period last year. Disney+ Core subscribers rose by 4.4 million during the quarter, reaching 122.7 million and surpassing forecasts. The company forecasts high single-digit adjusted EPS growth for fiscal year 2025 and plans $3 billion in stock repurchases during the year. Following the earnings report, Disney's stock surged by up to 10%. 'Deadpool & Wolverine' and 'Inside Out 2' have become the top two movies of 2024 to date, driving significant momentum for Disney's studio entertainment segment.