Disney's Q4 Profit Surges 39%, Revenue Up 6%; Streaming Profitable, Disney+ Subscribers Reach 122.7M

Nov 14, 2024, 11:56 AM

The Walt Disney Company reported its Q4 2024 earnings, surpassing analysts' expectations with adjusted earnings per share increasing 39% year over year to $1.14, beating estimates of $1.10. Revenue rose 6% year over year to $22.6 billion, exceeding the anticipated $22.47 billion. Disney+ Core subscribers grew to 122.7 million, higher than the expected 119.85 million. The company's streaming business turned profitable, contributing $321 million in direct-to-consumer streaming profit, an improvement from a loss of $387 million in Q4 2023. DTC ad revenue increased 14%, contributing $253 million net. Disney projects high-single-digit adjusted EPS growth in FY2025, above the estimated 4%, and forecasts double-digit adjusted EPS growth for FY2026 and FY2027. It plans to repurchase $3 billion in stock during FY2025. Shares rose over 6% pre-market following the earnings report.