Walt Disney Co DIS experienced a 1.50% increase in its stock during pre-market trading on Thursday as the company released its fourth-quarter earnings report before the market opened, according to Benzinga Pro.
What Happened: The entertainment giant reported a 6% increase in revenue for the quarter, reaching $22.6 billion, up from $21.2 billion in the same period last year. This beat the Wall Street consensus of $22.35 billion by a narrow margin.
The diluted earnings per share (EPS) rose significantly by 79% to $0.25, while the annual EPS more than doubled to $2.72, beating the street estimates by 3.64%.
The direct-to-consumer (DTC) segment reported a 14% rise in ad revenue, contributing to $253 million in operating income. Disney+ Core and Hulu subscriptions reached 174 million, with Disney+ Core paid subscribers increasing by 4.4 million.
Pixar’s “Inside Out 2” and Marvel’s “Deadpool & Wolverine” achieved new box office records, contributing to $316 million in operating income for content sales and licensing.
Disney’s annual revenue climbed by 3% to $91.4 billion, compared to $88.9 billion the previous year. Despite a 6% drop in the quarter’s income before taxes, the company’s annual income before taxes saw a 59% increase, totaling $7.6 billion.
The entertainment segment experienced substantial growth, with operating income reaching $1.1 billion, a $0.8 billion increase from the previous year.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Marvel Entertainment
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