Disney stock

"We are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and ...

Walt Disney DIS +0.13% stock jumped on Wednesday after the entertainment giant topped earnings expectations, while also announcing it was planning to cut ...

Sales of $23.51 billion was a touch above estimates of $23.45 billion. Disney reported non-GAAP earnings of 99 cents a share, ahead of estimates of 78 cents a share, according to FactSet. Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs.

In the company's first earnings report since Bob Iger returned as C.E.O., it exceeded Wall Street's expectations. But about 7000 jobs are expected to be ...

Each will now be viewed outside the company as a potential successor to Mr. In the restructuring, Mr. 8, Disney began charging $11 for a monthly subscription to the ad-free version of Disney+, up from $8, a 38 percent increase. Iger said new “Toy Story,” “Zootopia” and “Frozen” sequels were in the pipeline, for instance. But the company “might have gotten a bit too aggressive” in marketing the service around the world, he added. Losses in Disney’s streaming division totaled $1.1 billion in the quarter that ended in late December. Total hookups in the United States declined by a record 6.2 percent from October to December. Underscoring the importance of streaming to Disney’s future, operating profit from traditional television (the ABC broadcast network and 15 cable channels, led by ESPN) totaled $1.3 billion in the quarter, a 16 percent decrease from a year earlier. [much of Disney was closed](https://www.nytimes.com/2020/05/04/business/media/coronavirus-disney.html)) and do a much better job at succession planning. [fired Bob Chapek](https://www.nytimes.com/2022/11/21/business/media/disney-bob-iger.html) as chief executive and reinstated Mr. “We did not do it for that purpose,” Mr. Content production and distribution, including streaming, will be housed in a single division (instead of two, which were sometimes at odds), with the exception of sports.

Disney beats expectations as streaming subscriber losses aren't as bad as feared · Disney reported fiscal first-quarter earnings that beat on the top and bottom ...

A recent price hike for Disney's streaming services likely led to the loss of around 2.4 million Disney+ subscribers during the quarter. Disney suspended its dividends in early 2020 due to the pandemic. A little more than $6 billion of that revenue came from its theme park locations. Revenue rose 8% to $23.51 billion from $21.82 billion a year ago. In the most recent quarter, the operating loss was $1.05 billion, narrower than the $1.2 billion Wall Street had predicted. Even the streaming space has been difficult to navigate in recent quarters, as expenses have swelled and consumers become more cost conscious about their media spending. The company will now be made up of three divisions: vs 78 cents per share expected, according to a Refinitiv survey of analysts Additionally, Iger said the company will ask its board to approve the reinstatement of its dividend by the end of the calendar year. A bright spot for Disney came from its parks, experiences and products divisions, which saw a 21% increase in revenue to $8.7 billion during the most recent quarter. - A recent price hike for Disney's streaming services likely led to the loss of around 2.4 million Disney+ subscribers during the quarter. With CEO Bob Iger back at the helm, Disney is seeking to make a "significant transformation" of its business by reducing expenses and putting the creative power back in the hands of its content creators.

Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn't considering a spinoff of ESPN.

[Iger sent a memo](https://www.cnbc.com/2022/11/21/kareem-daniel-disney-head-of-media-and-chapeks-right-hand-is-out-following-igers-return.html) to employees announcing the business would be reorganized, particularly the Disney Media and Entertainment unit. The goal would be to have a new structure in place in the coming months, with elements of DMED remaining, CNBC reported. "We're not engaged in any conversations or considering a spinoff of ESPN," Iger said on Wednesday. "I have always believed that the best way to spur great creativity is to make sure the people who are managing the creative processes feel empowered." ESPN Chairman Jimmy Pitaro will lead the ESPN segment, while Josh D'Amaro, already the head of Disney's parks, experiences and products segment, will remain in control. Iger addressed speculation that the company may look to spin out ESPN due to the sports network being siloed into its own unit. The announcements also come as Disney engages in a [proxy fight](https://www.cnbc.com/2023/01/17/disney-defends-iger-says-activist-peltz-has-no-track-record-in-big-media-.html) with activist investor Nelson Peltz and his firm Trian Management. [considered contenders](https://www.cnbc.com/2022/12/04/disney-ceo-top-contenders-succeed-bob-iger.html) to take over for Iger in less than two years. That would be about 3% of the roughly 220,000 people it employed as of Oct. Discovery](/quotes/WBD/), have been pulling back on content spending and looking to make their streaming businesses profitable. Heightened competition has led to slowing subscriber growth, and companies have been looking to find new avenues of revenue growth. Disney announced the changes minutes after it

By Jon Swartz and Jeremy C. Owens. Amid activist attack, Disney beats on profit and revenue thanks to gains at theme parks, but Disney+ subscriber count ...

(CMCSA), Paramount Global (PARA) and others. (WBD), Amazon.com Inc. Disney's largest business segment, media and entertainment distribution, reported sales of $14.78 billion in the quarter, up slightly from $14.59 billion a year ago; analysts on average predicted $15.4 billion. (AAPL), Netflix Inc. (AMZN), Comcast Corp. (NFLX), Warner Bros. Analysts expected the subscriber count to decline after Disney increased costs for ad-free streaming while adding an ad-supported option, but not that much -- the average analyst estimate called for 162.68 million subscribers, according to FactSet. Disney (DIS)posted fiscal first-quarter net income of $1.28 billion, or 70 cents a share, on sales of $23.51 billion, up from $21.8 billion a year ago. The average analyst estimate was $6.6 billion. "After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises," Iger, who returned as CEO in November to replace Bob Chapek, said in a statement announcing the results. The news sent Disney shares up 9% in after-hours trading. They ended the regular session up 0.1% at $111.75.

Walt Disney Company (NYSE: DIS) was trading flat Wednesday heading into its first-quarter financial report after the market closes.

- The steep surge north paired with the consolidation has settled Disney in a bull flag pattern on the daily chart. The Disney Chart: Disney reversed course into a steep uptrend on Dec. From a technical analysis perspective, Disney’s stock looks set to trade higher over the coming days because the stock has settled into a bull flag pattern on the daily chart. Traders and investors will be watching closely to see whether Disney has been able to continue growing Disney+ subscribers in the wake of Netflix reporting new subscriber figures that [came in ahead of analyst estimates](https://www.benzinga.com/analyst-ratings/analyst-color/23/01/30505516/netflix-analysts-are-raising-price-targets-after-q4-beat-even-the-ones-with-sell-an). For the fourth quarter, Disney reported adjusted earnings of 30 cents per share on revenue of $20.5 billion. The new price target suggests about 10% upside for Disney.

Disney CEO Bob Iger outlined his plan to turn around the entertainment behemoth in his first quarterly earnings call since his return, laying out a plan to ...

[lauded](https://www.forbes.com/sites/dereksaul/2022/11/21/disney-shares-jump-9-on-return-of-bob-igers-magic/?sh=22a23ff38b2f) Iger’s November 20 return as a way for the company to rediscover its massive profit-making ways as the firm struggled under Bob Chapek, who initially succeeded Iger as Disney’s top decision-maker in February 2020. [campaign](https://www.ft.com/content/78adc493-8d32-401f-afff-2dc3757c5c3c) last year for Disney to divorce itself from the legacy sports media subsidiary, before backing off of his demand. Much of Iger’s current tenure has dealt with a high-profile [proxy battle](https://www.forbes.com/sites/dereksaul/2023/01/12/heres-why-investors-are-bullish-on-disney-despite-its-proxy-fight-with-billionaire-peltz/?sh=d3fdd5e4220f) with billionaire Nelson Peltz, whose Trian hedge fund disclosed last month it took a 0.5% stake in Disney. Meanwhile, KeyBanc Capital Markets analyst Brandon Kispel wrote Sunday that ESPN’s “profitability may never grow again,” indicating upside to a sale for future Disney growth prospects. [DeSantis Set To Control Disney World’s Special District Under New Bill—Here’s What It Would Do](https://www.forbes.com/sites/alisondurkee/2023/02/08/desantis-set-to-control-disney-worlds-special-district-under-new-bill-heres-what-it-would-do/?sh=6b9ab90f88cd) (Forbes) [Disney Shares Jump 10% On Return Of Bob Iger’s ‘Magic’](https://www.forbes.com/sites/dereksaul/2022/11/21/disney-shares-jump-9-on-return-of-bob-igers-magic/?sh=22a23ff38b2f) (Forbes) [Disney Drops ‘Simpsons’ Episode In Hong Kong Alluding To ‘Forced Labor’ In China](https://www.forbes.com/sites/dereksaul/2023/02/06/disney-drops-simpsons-episode-in-hong-kong-alluding-to-forced-labor-in-china/?sh=b5c61eb6a290) (Forbes) [Here’s Why Investors Are Bullish On Disney Despite Its Proxy Fight With Billionaire Peltz](https://www.forbes.com/sites/dereksaul/2023/01/12/heres-why-investors-are-bullish-on-disney-despite-its-proxy-fight-with-billionaire-peltz/?sh=d3fdd5e4220f) (Forbes) The ongoing proxy battle between Peltz and Disney will come to a head at the company’s annual shareholder meeting April 3, when shareholders will vote on Peltz’s hostile bid to take a seat on the company’s board. [primary focus](https://www.reuters.com/business/media-telecom/disney-ceo-bob-iger-calls-drive-make-streaming-profitable-priority-2022-11-28/) is on achieving profitability in the division as opposed to adding subscribers. Disney lost $1.05 billion last quarter in its direct-to-consumer business, beating the consensus estimate of a $1.2 billion loss, a downtick from its $1.5 billion loss in the prior quarter but a massive widening of losses from its $593 million loss during the same time period in 2021. Iger said in the call he hopes for Disney to pay out dividends to shareholders by the end of 2023 after a three-year pause on dividends, causing shares to spike as much as 9% in after hours trading. [reporting](https://thewaltdisneycompany.com/app/uploads/2023/02/q1-fy23-earnings.pdf) $23.51 billion in revenue and $1.3 billion in net income, or $0.99 per share, in the three-month period ending January 1; that exceeds consensus analyst estimates of $23.44 billion in sales and $0.78 in earnings per share, according to FactSet. The company booked $7.3 billion in sales from its linear television business including ABC and ESPN, $8.7 billion in sales for its parks and experiences division, and, perhaps most crucially to investors, the company posted $5.3 billion in revenue in its direct-to-consumer segment including its Disney+, Hulu and ESPN+ services. Disney CEO Bob Iger outlined his plan to turn around the entertainment behemoth in the first quarterly earnings call since his return, laying out a plan to save $5.5 billion by eliminating about 7,000 jobs and restructuring the company into three divisions—Entertainment, Parks and ESPN—even as the company reported strong financial results.

By Jon Swartz and Jeremy C. Owens. Amid activist attack, Disney beats on profit and revenue thanks to gains at theme parks, but Disney+ subscriber count ...

(CMCSA), Paramount Global (PARA) and others. (WBD), Amazon.com Inc. (AAPL), Netflix Inc. Disney's largest business segment, media and entertainment distribution, reported sales of $14.78 billion in the quarter, up slightly from $14.59 billion a year ago; analysts on average predicted $15.4 billion. (AMZN), Comcast Corp. (NFLX), Warner Bros. Analysts expected the subscriber count to decline after Disney increased costs for ad-free streaming while adding an ad-supported option, but not that much -- the average analyst estimate called for 162.68 million subscribers, according to FactSet. Disney (DIS)posted fiscal first-quarter net income of $1.28 billion, or 70 cents a share, on sales of $23.51 billion, up from $21.8 billion a year ago. The average analyst estimate was $6.6 billion. "After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises," Iger, who returned as CEO in November to replace Bob Chapek, said in a statement announcing the results. The news sent Disney shares up 9% in after-hours trading. They ended the regular session up 0.1% at $111.75.

Shares of Disney rose after the company reported better-than-expected quarterly earnings and announced it would cut about 7000 jobs. The layoffs are part of ...

Analysts expected $23.44 billion.\n\nRead more about Disney's results here. Analysts expected 78 cents per share\nRevenue of $23.51 billion.

By Jon Swartz and Jeremy C. Owens. Amid activist attack, Disney beats on profit and revenue thanks to gains at theme parks, but Disney+ subscriber count ...

Disney's largest business segment, media and entertainment distribution, reported sales of $14.78 billion in the quarter, up slightly from $14.59 billion a year ago; analysts on average predicted $15.4 billion. "After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises," Iger, who returned as CEO in November to replace Bob Chapek, said in a statement announcing the results. Analysts expected the subscriber count to decline after Disney increased costs for ad-free streaming while adding an ad-supported option, but not that much -- the average analyst estimate called for 162.68 million subscribers, according to FactSet. Disney (DIS)posted fiscal first-quarter net income of $1.28 billion, or 70 cents a share, on sales of $23.51 billion, up from $21.8 billion a year ago. (CMCSA), Paramount Global (PARA) and others. "We forecast the company reducing leverage to levels appropriate for its A2 rating by approximately the end of calendar 2024." The average analyst estimate was $6.6 billion. (WBD), Amazon.com Inc. (AAPL), Netflix Inc. "While this is necessary to address the challenges we're facing today, I do not make this decision lightly." The payouts were stopped abruptly during the COVID pandemic to conserve cash. The major reorg news sent Disney shares up more than 5% in after-hours trading.

Walt Disney shares surged higher Thursday after returning CEO Bob Iger unveiled a raft of changes at the media and entertainment group as it fends off an ...

Plus, while ESPN+ and Hulu continued to grow, they both added fewer users than what markets had hoped for. Disney+ lost subscribers for the first time ever in ...

The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. Markets have welcomed the new plan outlined by Disney to make streaming profitable and improve the overall efficiency of the business considering the stock has jumped higher. Investors will hope that the $113 level of resistance can now turn to support if it comes under renewed pressure, although the November peak of $107.60 remains in play. This will be up from the $4.9 billion spent in the last financial year and the $3.6 billion spent in the year before that. With this in mind, Disney is not waiting to find his successor and has already established a succession planning committee that will consider both internal and external candidates. Trian, the company that Peltz owns his stake through, said it was ‘pleased Disney is listening’ after the update, suggesting the company has made headway in winning him over. It can now look to recapture the closing-peak seen in mid-August at $125. Disney was among a raft of companies that were forced to stop paying a dividend when the pandemic derailed its business, particularly the experience-based operations centred on theme parks and resorts. Iger, who is 71 years of age, has already made a big impact with his return and installed confidence that he can replicate the success delivered during his first stint at the company. That is important as it suggests any payout could come not this financial year but early in the next one. The company said it plans to make streaming profitable by rationalising the amount being spent on content, cutting other costs in the business, growing subscribers, and optimising prices while also driving its newer ad-supported tier. ‘After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises,’ Iger said.

Shares of Disney are surging Thursday, after the company behind Mickey Mouse reported better-than-expected quarterly earnings and said it would cut about ...

Shares of Disney surged early Thursday, then lost steam, after the company behind Mickey Mouse reported better-than-expected quarterly earnings and said it would cut about 7,000 jobs.\n\nThe stock retreated later in the morning after activist investor Nelson Peltz said he is calling off his proxy fight with the media giant. Iger separately said Disney may not be interested in buying the remainder of streaming-service company Hulu it doesn't already own.\n\nRead more about_ Disney's results here_. Analysts expected $23.44 billion.\n\nMr.

"We are focused on the success of our streaming business and the return it generates for our shareholders long into the future," said CEO Bob Iger.

Disney earnings fell less than views in Q1 late Wednesday. The Dow giant will cut 7000 jobs with Bob Iger back in charge. DIS stock rose Thursday.

[Is Disney Stock A Buy Now?](https://www.investors.com/research/disney-stock-buy-now/) [Learn How To Time The Market With IBD's ETF Market Strategy](https://www.investors.com/market-trend/ibds-etf-market-strategy/ibds-etf-market-strategy/) [See Stocks On The List Of Leaders Near A Buy Point](https://www.investors.com/product/leaderboard/?artProdLink=Leaderboard) [Short-Term Trades Can Add Up To Big Profits. Following the earnings and restructuring announcement, activist investor Nelson Peltz called in to CNBC to declare the proxy battle with Disney was over. And the price of the Disney Bundle, which includes Disney+, Hulu and ESPN+, rose to $14.99 per month from $13.99 per month. Disney is now embarking on a "significant transformation," CEO Iger said in the release. The proxy fight is over." Parker is set to replace Susan Arnold at the next annual shareholder meeting on April 3. "Now Disney plans to do everything we wanted them to do," Peltz said on CNBC's "Squawk on the Street" on Thursday. The number of Disney+ subscribers jumped 24.5% year-over-year to 161.8 million. Ehrlich raised her price target on DIS stock to 135 from 115 and maintained a buy rating. The 15-year Disney veteran came out of retirement to take over as chief executive in late November. DIS stock dipped on Thursday after rising in early trading following the results. Some of those cost cuts were already underway in the latest quarter.

Shares advanced higher on the company's strong earnings and $5.5 billion in cost cuts. Activist investor Nelson Peltz says his firm's proxy fight with ...

Sales of $23.51 billion was a touch above estimates of $23.45 billion. Disney (ticker: DIS) reported non-GAAP earnings of 99 cents a share, ahead of estimates of 78 cents a share, according to FactSet. Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs.

Analysts raised their stock price targets as the company traded higher on Feb. 9 after disclosing its first earnings report since Bob Iger's return.

Pescatore highlights the “major shift away from the current approach” set by Iger’s predecessor Bob Chapek, and adds: “The company is returning back to its roots with greater emphasis on content creation and unique storytelling. He also discussed the “sweeping changes since Iger’s return,” noting: “He has returned both content and monetization responsibilities to the creative teams. “We still have reservations about the long-term strategy, particularly the wisdom of the Fox acquisition.” Disney+ is off to a very strong start, which we believe is the key variable governing stock performance,” Creutz concluded. While the future isn’t 100 percent certain, the strategy is: profit.” Cahall also lauded Iger in a pun in the title of his report, writing: “He’s The Profit.” “Disney and Bob Iger threaded the needle,” Supino opined. As the “biggest debate” he identified “flowing through cost cuts.” With $1 billion of the $2.5 billion savings target “baked into the fiscal year 2023 operating income guide,” the remaining $1.5 billion will mostly be realized in fiscal year 2024. “Bringing back the dividend should help too.” “Currently, we are forecasting fiscal year 2025 earnings of $7.20 (versus $6.41 previously), which now includes an aggregate of $2 billion in streaming profits (up from our prior estimate of $1.4 billion).” “It was refreshing to acknowledge that the company had chased subscriber growth at all costs and needed to show much greater discipline about pricing strategies, local market entrances and content investment,” Nathanson wrote. “Bob Iger returned to center stage, outlining his view of creative/financial alignment, managing costs, curating content offerings and amplifying the consumer parks experience,” Morris wrote and expressed optimism about the company’s move to three reporting segments, namely Disney Entertainment, ESPN and Disney Parks, Experiences and Products (DPEP). and Beyond!” Guggenheim analyst Michael Morris wrote in the headline of his post-earnings report, invoking Pixar franchise Toy Story‘s Buzz Lightyear, as he boosted his Disney stock price target by $25 to $140 while maintaining his “buy” rating.