Disney (DIS, $149.41) beats fiscal Q1 earnings...

Sarah Patel

published in Blogs

Feb 11, 2022

Disney (DIS, $149.41) beats fiscal Q1 earnings expectations

Disney posted its fiscal first quarter earnings that crushed analysts’ expectations. The entertainment giant’s revenue also surpassed estimates.

Adjusted earnings for the quarter came in at $1.06, vs 63 cents expected by analysts polled by Refinitiv.

Revenue of $21.82 billion was well above expectations of $20.91 billion.

Disney+ total subscriptions was 129.8 million as of quarter-end, also exceeding the 125.75 million expected, according to StreetAccount. Almost 12 million Disney+ subscriptions were added in the quarter. The streaming platform’s average revenue per user (ARPU) in the U.S. and Canada grew to $6.68 per month from $5.80 a year ago.

Revenues generated by the company’s parks, experiences and consumer products division was $7.2 billion during the quarter, double the $3.6 billion in the prior-year quarter. The segment’s operating income climbed to $2.5 billion compared to a loss of -$100 million in the year-ago quarter.

Disney’s move business is yet to fully recuperate from pandemic-induced challenges. While earnings from Disney’s co-production “Spider-Man: No Way Home” with Sony offset losses on other films it released during the quarter, many of which were unable to recover substantial marketing and production costs.

Disney’s consumer products segment experienced a -8.5% decrease in revenue following the closure of several Disney-branded retail stores during the second half of 2021.

Related Tickers: DIS

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published in Blogs

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