Walt Disney Company is set to release its third-quarter earnings report before the market opens on Wednesday, August 7, 2024. The company will hold an earnings conference call at 8:30 a.m. ET to discuss the results.
Wall Street expects Disney to report earnings per share of $1.19 and revenue of $23.071 billion. However, the focus will be on the performance of Disney’s streaming segment and theme parks division.
Disney’s streaming segment, which includes Disney+, Hulu, and ESPN+, has been a key area of growth for the company. Last quarter, Disney+ and Hulu turned a profit for the first time, but ESPN+ continues to weigh down the segment. Investors will be watching to see if Disney is on track to achieve profitability for the combined services by the end of the year.
The theme parks division, a traditional profit driver for Disney, will also be under scrutiny. The company has pledged to spend $60 billion ininvestments on its theme parks over the next decade, highlighting the importance of the business. However, Disneyland Resort in California saw lower profits last quarter due to cost inflation and increased competition.
Analysts expect “positive momentum” to continue for the parks, but will be watching for any signs of weakness. The earnings report comes after Comcast’s Universal theme parks reported lower earnings due to increased competition from cruises and international tourism.
