Disney’s stock surged after it announced its earnings. Disney beat estimates, sending the stock about 8% up in after hour trading. The results compared to the estimates:
Earnings per share, $1.06 to 63 expected cents.
Revenue: $21.82 billion to $20.91 billion expected.
Disney+ total subscriptions: 129.8 million to 125.75 million expected.
Disney+ is Disney’s new immensely popular streaming service, and it has grown exponentially in a short amount of time. Disney+ added 12 million new subscribers in the first quarter, and it’s average revenue per user grew from $5.80 to $6.68 in one year. Netflix, another streaming giant, fell a lot recently after it announced slower than expected subscriber growth. Disney’s parks also performed well, as they got $7.2 billion in revenue last quarter, which is double the amount of the same quarter one year before that. This came because as more people became vaccinated and comfortable with covid, people started going to its theme parks, cruises, and hotels. Disney also got $2.5 billion operating results, which is a significant improvement from a loss of $100 million in the same quarter of the previous year.
Source: https://www.cnbc.com/2022/02/09/disney-dis-fiscal-q1-2022-earnings.html
