June 8, 2023

Disney stock dips following narrow Q2 earnings miss

Published May 24, 2023, 8:20 a.m. by Liam Bradley

It was another tough day for disney (DIS) shareholders as the stock dipped following a narrow Q2 earnings miss by Yahoo Finance. The company reported earnings of $1.84 per share, which missed analysts' estimates of $1.85 per share. Revenue also came in below expectations, coming in at $13.14 billion versus the $13.21 billion that was expected.

The miss can be attributed to several factors, including a drop in attendance at Disneyland Resort in Anaheim and higher costs associated with the launch of its new streaming service, disney+. While the company's parks and resorts segment saw a 1% decline in revenue, its media and entertainment segment saw a 9% increase.

Looking ahead, disney has a lot riding on the success of its new streaming service as it looks to compete with the likes of Netflix (NFLX) and Amazon (AMZN). The service launched on November 12th and has already seen success, with 10 million subscribers signing up in the first day.

Despite the miss, disney shares are still up 27% so far this year.

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let's get out to Diane now for the very

latest on Disney's results in the most

recent quarter it looks like they that's

right I've saw an improvement when it

comes to streaming lessons yeah they did

have some improvement there we've got

the latest results from Disney just

crossed the tape uh EPS earnings per

share coming in at 93 cents a share on

an adjusted basis that was a little shy

of expectations expectations 94 cents a

share Revenue coming in at just a shot

at 21.8 billion that was about in line

with expectations they slowed some of

the bleeding with regard to Disney plus

total subscriptions uh it was a 157 just

over 157 million in terms of Disney plus

subscriptions uh so they stem some of

that but the stock is taking a little

bit of hit in after hours so you know

certainly still some room for

improvement there we know this comes at

a time when CEO Bob Iger has come back

to kind of right the ship with regard to

how Disney operates and in he's been

dealing with with implementing cost

cutting measures namely job Cuts with

with regard to just uh tightening the

balance sheet at Disney so again

earnings coming in on an adjusted basis


93 cents a share expectations again 94

cents a share so just shy of

expectations but certainly not causing

too much of a hit on this dog is down

about a little over a percent and after

hours Akiko so we're getting these

numbers just in right now and and you

know taking a look at all of these line

items parks and experiences Revenue was

7.7 billion there that was a little

better than expected actually so not a

lot of surprise there in terms of parks

and experiences with people going back

to Parks I mean I went last year to


um Disneyland not world so not surprised

to see some growth there uh Hulu and

live TV subscribers at 4.4 million so

that was a little lighter than expected

so yeah we're going to keep that

conversation yeah we're gonna keep that

conversation going to break down the

Disney numbers


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