Disney+ Subscribers

ESPN+ Subscribers

Hulu Subscribers

Subscribers

Revenue segments as reported by the company.

Parks, Experiences & Consumer Products

Disney Media and Entertainment Distribution

Entertainment

Sports

Experiences

Eliminations

Contract License Early Termination

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Costs & Expenses

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Disney

Lucasfilm, is an American film and television production company based in the Letterman Digital Arts Center in San Francisco, California. The studio is best known for creating and producing the Star Wars and Indiana Jones franchises, as well as its leadership in developing special effects, sound and computer animation for film. Lucasfilm was founded by filmmaker George Lucas in 1971 in San Rafael, California; most of the company's operations were moved to San Francisco in 2005. The Walt Disney Company acquired Lucasfilm in 2012 at a valuation of $4.06 billion.

Lucasfilm

ESPN (originally an initialism for Entertainment and Sports Programming Network) is a U.S.-based global cable and satellite sports television channel owned by ESPN Inc., a joint venture owned by The Walt Disney Company (80%) and Hearst Communications (20%). The company was founded in 1979 by Bill Rasmussen along with his son Scott Rasmussen and Ed Egan.

ESPN

The American Broadcasting Company (ABC) is an American commercial broadcast television network that is a flagship property of Disney–ABC Television Group, a subsidiary of the Disney Media Networks division of The Walt Disney Company. The network is headquartered on Columbus Avenue and West 66th Street in Manhattan, New York City. There are additional major offices and production facilities elsewhere in New York City, as well as in Los Angeles and Burbank, California.

Marvel Studios, is a motion picture studio and is a subsidiary of Walt Disney Studios, itself a wholly owned division of The Walt Disney Company, with film producer Kevin Feige serving as president. Previously, the studio was a subsidiary of Marvel Entertainment until Disney reorganized the companies in August 2015.

Marvel Studios

A&E Networks (branded as A+E Networks) is a US media company that owns a group of television channels available via cable & satellite in the U.S. and abroad. A&E stands for Arts & Entertainment. The company is a joint venture with Hearst Communications and Disney–ABC Television Group, a unit of The Walt Disney Company.

A&E Networks

FUSION is a television cable and satellite news and satire channel owned by Fusion Media Group, an American multi-platform media company that is owned by Univision Communications, which relies in part on the resources of its parent company's news division, Noticias Univision. In addition to conventional television distribution, Fusion is also streamed online and on mobile platforms to subscribers of participating cable and satellite providers.

Fusion

Pixar, also referred to as Pixar Animation Studios, is an American computer animation film studio based in Emeryville, California that is a subsidiary of The Walt Disney Company. Pixar began in 1979 as the Graphics Group, part of the Lucasfilm computer division, before its spin-out as a corporation in 1986, with funding by Apple Inc. co-founder Steve Jobs, who became the majority shareholder. Disney purchased Pixar in 2006 at a valuation of $7.4 billion, a transaction that resulted in Jobs becoming Disney's largest single shareholder at the time. Pixar is best known for CGI-animated feature films created with RenderMan, Pixar's own implementation of the industry-standard RenderMan image-rendering application programming interface, used to generate high-quality images.

Pixar

Touchstone Pictures is an American film distribution label of Walt Disney Studios Motion Pictures. Previously, Touchstone operated as an active film production banner of Walt Disney Studios, owned by The Walt Disney Company. Established on February 15, 1984 by then-Disney CEO Ron W. Miller as Touchstone Films, similar to the defunct label Hollywood Pictures, it typically releases films targeted to adult audiences with more mature themes and darker tones than those released under the Disney name. Touchstone Pictures merely serves as a brand and not a distinct business operation, and does not exist as a separate company.

Touchstone Pictures

Hulu (stylized as hulu) is an American subscription video on demand service owned by Hulu LLC, a joint venture with The Walt Disney Company (through Disney Direct-to-Consumer and International)[7] (30%), 21st Century Fox (30%), Comcast (through NBCUniversal) (30%), and as of August 10, 2016, Time Warner (through Turner Broadcasting System) (10%). Through an acquisition announced in December 2017, Disney will acquire Fox's partial ownership, giving it a majority stake when the deal closes.

Hulu

The Walt Disney Co. engages in the business of international family entertainment and media enterprise. It owns and operates television and radio production, distribution and broadcasting stations, direct-to-consumer services, amusement parks, and hotels. It operates through the following business segments: Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products. The company was founded by Walter Elias Disney on October 16, 1923 and is headquartered in Burbank, CA.

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Disney focuses on streaming growth and cost savings for profitability

Disney's strategic transformation aims to drive sustained growth and profitability through cost savings and a focus on core business segments.
The company's strong performance in key segments, successful content releases, and strategic partnerships position it well for future success.
While facing challenges in restructuring and content distribution, Disney is leveraging opportunities in streaming, brand strength, and content licensing for growth.
Overall, Disney's focus on core brands, content curation, and customer experience enhancement aligns with its vision for future success and profitability.

Disney focuses on streaming profitability and parks growth strategies

Disney is strategically aligning its businesses for sustained growth, focusing on cost-cutting, audience engagement, and profitability in streaming services. The company's strong financial performance, diverse content portfolio, and focus on innovation position it well for future success amidst industry challenges and opportunities.

Disney focuses on DTC growth and strategic partnerships for future

Disney's Q3 earnings call highlighted transformation efforts, strong DTC and Parks performance, and strategic initiatives for growth. Challenges in content sales and linear networks were acknowledged, with opportunities in partnerships and pricing strategies. Company prioritizes liquidity, profitability, and smart capital allocation.

Disney triples Q4 earnings, eyes streaming growth and cost efficiency

Disney's strong financial performance in Q4 and fiscal 2023, driven by growth in streaming and experiences businesses, sets the stage for continued success.
Efforts to streamline operations, reduce costs, and focus on core brands and franchises position Disney for long-term sustainability and growth.
Anticipated investments in experiences business and strategic priorities to transform ESPN into a digital sports platform highlight Disney's commitment to innovation and expansion.
Exploration of partnerships, cost-saving measures, and focus on content quality present avenues for Disney to capitalize on emerging opportunities and navigate challenges effectively.

Disney excels in Q1 with strong financials and strategic focus

Disney's Q1 2024 Earnings Call highlighted strong financial performance, strategic initiatives in digital sports and streaming, and a focus on enhancing content quality and subscriber growth. While facing challenges in a competitive landscape and potential cord-cutting impacts, the company is well-positioned to leverage opportunities in gaming partnerships, direct-to-consumer expansion, and park investments.

Disney reports strong Q2 performance and strategic growth initiatives

Disney's Q2 performance was robust, with strong growth in adjusted EPS and profitability in streaming.
The company is strategically investing in content and cost efficiency while exploring new opportunities.
Challenges include content licensing decisions and replicating partnership success.
Overall, Disney remains focused on growth, shareholder returns, and a balanced content strategy.

Disney reports 2% revenue growth in Q3, streaming success highlighted

Disney's Q3 2024 earnings call highlighted revenue growth driven by park IP and streaming success.
The company faces challenges in managing costs, content spending balance, and maximizing profitability.
Opportunities lie in capitalizing on streaming services, global park demand, and strategic partnerships.
Analysts' inquiries focused on Disney's financial outlook, pricing power, and growth strategies for key segments.

Disney reports robust Q4 results, focuses on streaming and Experiences growth

Disney's Q4 earnings call highlights strong performance across key segments, creative content offerings, and strategic investments. While facing challenges in certain areas, the company is focused on leveraging opportunities in streaming, DTC margins, and international expansion. Overall, Disney remains optimistic about its growth trajectory and future prospects.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Disney may be focusing more on profit than subscriber growth. What could it mean for the company?

1 Green Flag for Disney, and 1 Red Flag

The first time billionaire investor Daniel Loeb began pushing for change at the Walt Disney Co, he got his wish. His hedge fund Third Point LLC in 2020 called on the company to suspend its dividend and go all-in on streaming.

Analysis-Activist's call for ESPN spin-off may be a tough sell at Disney

The Walt Disney Company had operational struggles during the coronavirus pandemic; notwithstanding, the company presents a prime example of a legacy portfolio holding. Over the decade leading up to the pandemic, DIS stock outperformed its industry, sector, and the S&P 500.

Disney: Buy Low, Hold High, Sell When You Die

Despite strong Q3 performance, Disney is ripe for a top-to-bottom look at in the mirror now pushed by activist Dan Loeb. ESPN's major blunder in bypassing sports betting from 2018's court decision is part of why Loeb wants to see it spun off.

Disney: Activist Loeb's Position Welcome News, Mouse House Needs Housekeeping

Daniel Loeb (Trades, Portfolio), manager of Third Point Offshore, disclosed in a regulatory filing that its top trades during the second quarter included an activist stake in Walt Disney Co. ( DIS , Financial). The firm also took new positions in Colgate-Palmolive Co. ( CL , Financial) and Antero Resources Corp. ( AR , Financial) and boosted its stake in Ovintiv Inc. ( OVV , Financial).

Daniel Loeb Enters Walt Disney Stake, Explores ESPN Spinoff

Citi's Jason Bazinet says ESPN could get gobbled up by a competitor if Disney cuts it loose.

Dan Loeb Thinks Disney Should Try to Spin ESPN Off. This Analyst Isn't so Sure.

About 2 years ago, Third Point pushed an activist campaign that persuaded Disney to cut its dividend and spent more aggressively on streaming. This arguably has been a very successful strategy. Disney is now the biggest streaming competitor to Netflix.

Disney: 4 Ideas To Make It Better

Source: chrisdorney / Shutterstock Third Point founder and fund manager Dan Loeb is making headlines today after disclosing a 1 million share stake in Disney (NYSE: DIS ) stock. Loeb also penned a letter to CEO Bob Chapek, urging him to make five strategic changes.

How Billionaire Dan Loeb Thinks He Can Transform Disney (DIS) Stock

AMC Networks

Comcast

CuriosityStream

Twenty-First Century Fox

Netflix

Nielsen Hlds

Paramount Global

AT&T

Warner Bros Discovery Inc

The foreseeable future isn't likely to look as robust as the recent past.

Streaming Stocks Are Slowing Down. Should You Really Buy Now?

Shares of The Walt Disney Company (DIS) were up 2.2% after activist investor Dan Loeb said his investment firm, Third Point, has taken a “significant stake” in the entertainment giant in recent weeks.

Activist Investor Dan Loeb Wants Changes at Disney

Disney is getting ready to dominate the streaming industry.

Smart Investors Know This Could Be the Safest Streaming Stock

Third Point Management, the hedge fund led by activist investor Daniel Loeb, has disclosed the purchase of a stake of up to $1bn in The Walt Disney Company (NYSE:DIS) in a public letter addressed to Disney chief executive officer Robert Chapek.  The approximately 0.4% stake is not the first Disney investment for Third Point, having bought approximately US$150mln worth in shares in the volatile time of early 2020, just as pandemic troubles were arising and Disney was dealing with the departure of long-term company head Robert Iger.

Disney shares scooped up by activist investor Daniel Loeb's hedge fund

Walt Disney Co. (NYSE: DIS) investors have expressed skepticism about current and fairly newly minted CEO Bob Chapek.

Disney Plans Get Crushed

Activist investor's new wish list for the Magic Kingdom will be much harder to grant.

Disney May Give Dan Loeb Sequel Fatigue

The political spat in Florida seems to be more a 'meow' than a bite at Mickey Mouse, given the potential reinstatement of its Special District Status by 2023. Disney's long awaited ad-supported tier and price hike would also help its D2C segment reach profitability, lifting its financial performance ahead.

Disney Magic Is Still Alive, Despite Political Headwinds

Amazon

DraftKings

Roblox

Rivian Automotive

Tesla

While the biggest analyst calls garner the most attention, “buy,” “sell” and “hold” ratings from analysts are not always a good source for investors. The reason is simple.

Buy, Sell or Hold: The 7 Biggest Analyst Calls of Last Week

Disney's 58.4 million Hotstar subs have a monthly ARPU that is just $1.20 such that they contribute less than $1 billion in annual revenue. In the short run, I don't see how ESPN+ can make up for FCF declines from linear ESPN.

Disney's Valuation Is Tricky

Activist investor Daniel Loeb's Third Point LLC has bought new stakes in T-Mobile US Inc. and Colgate Palmolive Co. , and sold off holdings on EV maker Rivian Automotive Inc. and Amazon.com Inc., among other investment decisions, according to a filing late Monday.

Here's what else besides Disney that hedge fund Third Point loaded up on recently

'This quarter's results are an important proof point that Disney's complex transformation is succeeding,' writesThird Point CEO Daniel Loeb in a letter to Disney CEO Bob Chapek.

Activist Investor Dan Loeb Takes Stake in Disney and Pushes for ESPN Spinoff

After repurchasing a stake in Disney, Loeb criticized the Mouse House's board of directors.

Disney hits back at activist investor Dan Loeb after ESPN spinoff proposal

The Third Point CEO has called on the House of Mouse to consider a series of initiatives, including a cost-cutting program, board refresh, EPSN spinoff and integration of Hulu into Disney+.

Disney responds to letter from activist investor Dan Loeb

Disney wowed Wall Street last week with strong earnings thanks to solid Disney+ subscriber gains and healthy theme park attendance. But that's not enough to completely win over one activist investor.

Activist investor wants Disney to buy back Hulu stake and spin off ESPN

AMC Entertainment

American Express

GameStop

Coca-Cola

A black swan event is an unpredictable and unforeseen event that has major implications. While it's impossible to predict exactly what will happen in 2022, there are some steps you can take to prepare your portfolio.

5 Ways to Prepare Your Portfolio for a Black Swan Event in 2022

BURBANK, Calif.--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) issued the following statement today: “We welcome the views of all our investors. As our third quarter results demonstrate, The Walt Disney Company continues to deliver strong financial results powered by world-class storytelling and our unique and highly valuable content creation and distribution ecosystem. Under the leadership of Bob Chapek, the company has delivered this strong performance while navigating the COVID-19 pan

Statement From The Walt Disney Company on Letter From Third Point

Disney said it will hold the Disney & Marvel Games Showcase on September 9, live from its D23 Expo 2022 fan event.

News for Disney Stock (DIS)