The Walt Disney Company

Latest Results (20.08.2024):

Revenue Growth

The Walt Disney Company reported revenues of $23.2 billion for the third quarter ended June 29, 2024, marking an increase from $22.3 billion in the prior-year quarter. This growth was driven by strong performance across various segments, particularly in the Entertainment and Sports divisions.

Income Improvement

Income before income taxes for The Walt Disney Company improved significantly to $3.1 billion in the third quarter of 2024, compared to a loss of $0.1 billion in the same quarter of the previous year. This turnaround highlights the company's effective cost management and revenue growth strategies.

Earnings Per Share

The Walt Disney Company's diluted earnings per share (EPS) for the third quarter of 2024 was $1.43, a substantial improvement from a loss of $0.25 per share in the prior-year quarter. Excluding certain items, the adjusted EPS increased to $1.39 from $1.03, reflecting a 35% growth.

Segment Performance

In the third quarter of 2024, The Walt Disney Company's Entertainment segment saw its operating income nearly triple year over year, driven by improved results in Direct-to-Consumer and Content Sales/Licensing. The Sports segment experienced a 4% growth in ESPN operating income, although overall Sports segment income declined by 6% due to lower results at Star India.

Guidance and Outlook

Based on the strong financial performance in the third quarter of 2024, The Walt Disney Company has set a new full-year adjusted EPS growth target of 30%. The company remains optimistic about its trajectory, expecting continued profitability in its streaming businesses and modest growth in Disney+ Core subscribers in the fourth quarter.