Quarterly results from Home Depot (HD) and Disney (DIS) highlighted this week's earnings lineup despite the broader market taking a breather following an extensive presidential election rally.
The Mouse is regaining its mojo on Wall Street. Disney stock, which hit a 2024 bottom of $83.91 over the summer, has roared back to life and is seeing a second straight day of significant gains after an upbeat earnings report Thursday morning.
Disney's theme park division posted record revenue and profit in fiscal 2024, and that growth is expected to continue next year. The company is breaking ground on new additions and updates to its domestic and international theme parks, but it will be several years before they become available to the public.
Disney shares surged due to strong Q4 earnings and a resurgence in Disney+ subscribers, driven by the ad-supported tier, which now comprises 37% of U.S. subscribers. The ad-supported tier has attracted cost-conscious consumers, contributing to Disney+ flipping to profitability and boosting overall company performance. Despite Disney's content library lagging behind Netflix, the nostalgia factor and cheaper ad-supported option are drawing in new subscribers effectively.
The Walt Disney Company DIS provided a look at multi-year guidance, which surprised analysts and resulted in price targets being raised after the company's fourth-quarter financial results.
The Walt Disney Company DIS provided a look at multi-year guidance Thursday, which surprised analysts and resulted in price targets being raised after the company's fourth-quarter financial results.
DIS' fourth-quarter fiscal 2024 results reflect growth in Disney+ subscribers and Media and Entertainment Distribution businesses.
Disney (DIS) shares were moving higher in early trading Friday, adding to the big gains recorded yesterday after the entertainment giant topped Wall Street's quarterly estimates and provided an upbeat long-term outlook.
Bob Iger returned to Walt Disney as CEO in 2022 with a bold promise of making streaming profitable.
Disney Has Been Dead Money For a Decade. 3 Reasons That Could Finally Change
Disney's Q4 2024 results showed a 6.3% revenue increase to $22.57 billion, surpassing forecasts, despite earnings per share falling short of expectations. Streaming operations, particularly Disney+, showed growth with Disney+ Core subscribers reaching an all-time high of 122.7 million, offsetting declines in low-value Hotstar users. Theme parks and theatrical distribution saw mixed results, with domestic and international parks performing well and theatrical revenue nearly tripling year-over-year.
The Disney Adventure starts at $958 for two people, but rates go higher for those who want ocean views, verandahs and "Frozen" themed suites.