Bob Iger poses with Mickey Mouse attends Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles.
Valerie Macon | AFP | Getty Images
LOS ANGELES – Disney reported earnings after the bell. Here are the results.
- Earnings per share: 99 cents per share, adj. vs 78 cents per share expected, according to a Refinitiv survey of analysts
- Revenue: $23.51 billion vs $23.37 billion expected, according to Refinitiv
- Disney+ total subscriptions: 161.1 million expected, according to StreetAccount
Last quarter, with Bob Chapek still at the helm, Disney sought to temper investor expectations for the new fiscal year, forecasting revenue growth of less than 10%. As part of that warning, the company noted that its Disney+ platform may see a tapering of growth going forward.
In November, the company reported $1.5 billion in operating losses at its direct-to-consumer unit, which includes its streaming services. This quarter, Wall Street is predicting a slightly smaller loss of $1.2 billion.
As for subscriber growth, analysts predict the total Disney+ user pool will be 161.1 million, a loss of around 3 million compared to the previous quarter. The expectation is that a recent price hike prompted some consumers to drop the service.
Revenue and operating income at Disney’s theme parks could be up year-over-year considering the holiday season typically drives significant foot traffic to its domestic and international amusement locations. Additionally, the company released the blockbuster hit “Avatar: The Way of Water” in theaters in December, likely boosting its theatrical revenues year-over-year.
