Disney Exceeds Q3 Estimates with EPS $1.39, Revenue $23.16B, Streaming Profit

Aug 7, 2024, 10:53 AM

The Walt Disney Company reported stronger-than-expected earnings for the third quarter of fiscal 2024, driven by its streaming and entertainment segments. Disney's adjusted earnings per share (EPS) reached $1.39, surpassing the estimated $1.19, marking a 35% year-over-year increase. The company's revenue totaled $23.16 billion, exceeding the forecasted $23.08 billion. Notably, Disney's streaming services, including Disney+, turned a profit for the first time, with Disney+ core subscribers reaching 118.3 million. The entertainment segment's revenue soared to $10.58 billion, supported by the successful release of Pixar's 'Inside Out 2.' However, the parks segment showed signs of strain, with a moderation in consumer demand that could impact future quarters. Disney's fiscal year 2024 outlook includes a projected 30% growth in adjusted EPS. The company's market capitalization stands at $164.02 billion, and its direct-to-consumer operations reported a loss of $19 million.