Lights, Camera, Earnings: Disney’s Q3 2024 Blockbuster Financial Performance
The Walt Disney Company (NYSE: DIS) recently reported an impressive financial performance for Q3 2024, surpassing both market expectations and previous guidance. Revenues increased to $23.2 billion from $22.3 billion year-over-year, reflecting a healthier financial state post-pandemic. Notably, diluted EPS soared to $1.43 compared to a loss of $0.25 in the same quarter last year, and adjusted EPS grew a robust 35% to $1.39.
Driving this success, Disney’s entertainment segment saw its operating income nearly triple. A standout achievement was the profitability of Disney’s streaming businesses, including Disney+ and ESPN+, one quarter earlier than anticipated. “Inside Out 2” became the highest-grossing animated film of all time, significantly boosting both box office revenue and Disney+ subscriber sign-ups, which speaks volumes about Disney’s cross-platform content synergy.
ESPN’s performance was solid with a 4% increase in operating income, despite some setbacks as Star India underperformed, leading to a 6% decline in the sports segment’s overall operating income. Meanwhile, revenue from Disney’s Experiences segment, including parks and resorts, grew by 2%. However, operating income in this sector saw a 3% decrease, hinting at a moderation in consumer demand, particularly towards the quarter’s end.
As a result of its strong Q3 performance, Disney raised its full-year adjusted EPS growth target to 30%. Analysts and market watchers are curious to see how Disney will navigate modest growth expectations for Disney+ Core subscribers and a potential dip in the Experiences segment’s operating income in Q4.
CEO Robert A. Iger commented, “This was a strong quarter for Disney, driven by excellent results in our Entertainment segment both at the box office and in direct-to-consumer. We are confident in our ability to continue driving earnings growth through our collection of unique and powerful assets.”
What do you think about Disney’s Q3 results? Share your thoughts in the comments below and let us know if you’ll be adding Disney+ to your holiday watch list!
Source: StockTitan_net
