As a seasoned gamer with years of experience under my belt, I must say, the latest financial report from The Walt Disney Co. is nothing short of exhilarating! Growing revenues and improved profitability in their streaming services? Sign me up!
In the final quarter of fiscal year 2024, The Walt Disney Company achieved impressive results, primarily due to strong performances from its movie theater division and increased streaming services, despite modest dips in profits for ESPN and its experience-based operations relative to the previous year.
The company, known for its entertainment offerings, brought in approximately $22.57 billion during the final quarter of their fiscal year ending on September 30th. This represents a 6% increase compared to the same period last year. However, income decreased by 6% from last year, amounting to $948 million. In contrast, diluted earnings per share (EPS) saw an improvement, with a value of $0.25 compared to just $0.14 in the previous year.
The expansion was primarily fueled by the entertainment sector, as revenues increased by 14% to reach $10.8 billion. Remarkably, the segment operating income soared over 100%, amounting to $1.07 billion. During this period, the company had two blockbuster films – Deadpool & Wolverine and Inside Out 2 – which were significant box office successes.
As a devoted fan, I’m thrilled to share that the streaming service has significantly boosted its earnings, recording an operating income of a staggering $321 million from its direct-to-consumer services alone. To put it into perspective, Disney+ has managed to attract over 4 million new “core” subscribers, bringing its total to a whopping 120 million. Incredibly, the revenue generated from these direct-to-consumer offerings reached an impressive $5.8 billion!
Despite some softness in Disney’s sports division, spearheaded by ESPN, and its experiences division, they both contributed to a decrease in income results compared to the previous year. Sports revenue remained nearly unchanged at around $3.9 billion, but operating income dropped by 5% to approximately $929 million.
In Disney’s Experiences sector, earnings increased by a slight 1% during the last quarter, primarily due to strong performance at domestic theme parks. However, operating income dipped by 6%, reaching $1.7 billion. This fluctuation in revenue and income can mainly be attributed to Disney’s international theme parks.
In an uncommon step, Disney offered financial direction that reached as far as fiscal year 2027, hinting at the impact of its recently appointed CFO, Hugh Johnston.
As a gamer, here’s how I might put it:
For fiscal year 2026, Disney anticipates a double-digit increase in Earnings Per Share (EPS), as well as single-digit growth in operating income for sports and experiences, and moderate double-digit growth for entertainment. In fiscal year 2027, the company is predicting another round of double-digit EPS growth.
2021 proved to be a transformative and triumphant year for The Walt Disney Company, as we’ve made significant strides that have prepared us for expansion and have filled us with confidence about our future. In a statement, CEO Bob Iger expressed this sentiment, stating that we’ve emerged from a period of substantial difficulties and upheaval in a strong position for growth.
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2024-11-14 14:54