Disney Surpasses Earnings Estimates Driven by 'Moana 2', Streaming Success

Key Performance Highlights:

* Adjusted EPS soared 44% to $1.76, exceeding analyst consensus of $1.45.
* Revenue grew 5% to $24.69 billion, surpassing forecasts of $24.62 billion.
* Operating income surged 31% to $5.1 billion.

Entertainment Segment Thrives:

* Operating income for Entertainment unit doubled to $1.7 billion.
* Animated sequel "Moana 2" topped $1 billion at the box office.
* Traditional television revenue declined 11%.

Streaming Momentum Continues:

* Disney+, Hulu, and ESPN+ generated an operating profit of $293 million.
* Disney+ subscribers slightly decreased to 124.6 million, reflecting a modest price increase.
* Company projects ongoing growth in streaming revenue.

Theme Parks and Experiences Segment:

* Domestic parks revenue declined due to hurricane impact and cruise ship costs.
* International parks operating income rose 28%.

Sports Unit Recovery:

* ESPN and Star India drove growth in operating income.
* Deal to combine Indian media assets with Reliance Industries expected to enhance performance.

Future Outlook:

* Disney forecasts high single-digit EPS growth in fiscal 2025.
* Operating income for streaming entertainment unit to increase by approximately $875 million.
* Exit from Venu Sports joint venture estimated to incur $50 million in costs.