Business Insights

Disney Expects Higher Earnings as Streaming Grows

Ken Metral

14 Nov 2024 — 1 min read

Image Credit: The Walt Disney Company

The Walt Disney Company reported strong fiscal fourth-quarter results for 2024, surpassing Wall Street expectations and highlighting significant growth in its streaming and film divisions.

Financial Highlights

Earnings Per Share (EPS): Adjusted EPS rose by 39% to $1.14, exceeding analyst projections.
Revenue: The company generated $22.57 billion in revenue, marking a 6% year-over-year increase.

Streaming Success

Disney's direct-to-consumer segment, which includes Disney+ and Hulu, achieved profitability with an operating income of $321 million, a significant turnaround from previous losses. This success was driven by subscriber growth and strategic pricing adjustments.

Box Office Performance

The film studio division experienced one of its best quarters, bolstered by the success of releases like "Inside Out 2" and "Deadpool & Wolverine." These films contributed to a 39% increase in content sales and licensing revenue, totaling $2.59 billion.

Parks and Experiences

The parks and experiences segment reported record revenue, driven by increased guest spending. However, operating income in this division saw a slight decline, attributed to softer performance at international parks and events like the Olympics affecting visitor numbers.

Future Outlook

Looking ahead, Disney forecasts high-single-digit adjusted EPS growth in fiscal 2025 and double-digit growth by 2026. The company also plans to increase dividends and execute $3 billion in stock buybacks, reflecting confidence in sustained financial performance.

These results underscore Disney's strategic focus on streaming and content creation, positioning the company for continued growth in the evolving entertainment landscape.

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