{"id":81402,"date":"2023-11-06T18:26:41","date_gmt":"2023-11-06T23:26:41","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/disney-earnings-what-to-expect-when-the-magic-kingdom-reports\/"},"modified":"2023-11-06T18:26:45","modified_gmt":"2023-11-06T23:26:45","slug":"disney-earnings-what-to-expect-when-the-magic-kingdom-reports","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81402","title":{"rendered":"Disney earnings: What to expect when the Magic Kingdom reports"},"content":{"rendered":"
\n

Walt Disney Co. Chief Executive Robert Iger has his hands full as the media giant preps for its fiscal fourth-quarter earnings report Wednesday.<\/p>\n

The company\u2019s
\n DIS,
\n -1.23%<\/bg-quote>
\n once-prodigious cable-television assets, like ESPN, are being hollowed out amid cord cutting and a weak advertising market, and Disney\u2019s money-losing streaming business is in need of a jolt. Iger is taking radical steps that could include the sale of major businesses, like ABC. A key part of Iger\u2019s recovery plan is a significant price hike for streaming subscriptions and a crackdown on account sharing, announced last quarter.<\/p>\n

\n

At the same time, activist investor Nelson Peltz has renewed his push for a seat on the company\u2019s board \u2014 this time with help from Ike Perlmutter, former chair of Marvel Entertainment.<\/p>\n

On Monday, Disney named a new chief financial officer, Hugh F. Johnston, the former longtime CFO of PepsiCo Inc.
\n PEP,
\n -0.05%<\/bg-quote>.<\/span>\n <\/p>\n

Here is what to expect from Disney on Wednesday.<\/p>\n

What to expect<\/h2>\n

Earnings:<\/strong>\u00a0Analysts tracked by FactSet project Disney to report 71 cents a share in earnings, compared with 30 cents a share a year before. On Estimize, which crowdsources projections from hedge funds, academics and others, the average projection also calls for 71 cents a share in earnings.<\/p>\n

Revenue:<\/strong>\u00a0The FactSet consensus calls for $21.37 billion in revenue, up from $20.15 billion the previous year. Those contributing to Estimize also expect $21.37 billion in revenue.<\/p>\n

Stock movement:<\/strong>\u00a0Shares of Disney have receded 2% this year, most of that in the last six months. The S&P 500\u00a0index
\n SPX
\n is up 13.5% in 2023.<\/p>\n

Of the 34 analysts tracked by FactSet who cover Disney shares, 23 have buy ratings, six have hold ratings and two recommend to sell, with an average price target of $103.89.<\/p>\n

What to watch for<\/h2>\n

When Disney reports Wednesday, Macquarie senior media analyst\u00a0Tim Nollen is bracing for some rough results.<\/p>\n

\u201cWe expect the new Linear standalone segment to continue to decline from the loss of pay TV subs, and advertising to remain weak,\u201d Nollen said in a Friday note to investors. \u201cWe expect Disney+ subs to be flat [quarter over quarter], but expect [direct-to-consumer] losses to improve to ($288m) on lower content spending and other cost-cutting measures. Experiences (parks) growth will likely slow.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Walt Disney Co. Chief Executive Robert Iger has his hands full as the media giant preps for its fiscal fourth-quarter earnings report Wednesday. The company\u2019s DIS, -1.23% once-prodigious cable-television assets, like ESPN, are being hollowed out amid cord cutting and a weak advertising market, and Disney\u2019s money-losing streaming business is in need of a jolt. […]<\/p>\n","protected":false},"author":1,"featured_media":81403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-81402","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nDisney earnings: What to expect when the Magic Kingdom reports | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Walt Disney Co. 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