Disney posts Q4 results below Wall Street estimates

By AP News

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The Walt Disney Co. has posted lower-than-expected profit and revenue for its fiscal fourth quarter

Earns Walt Disney

The Walt Disney Co. on Tuesday posted lower-than-expected profit and revenue for its fiscal fourth quarter, sending its shares lower in after-hours trading.

The company said it earned $162 million, or 9 cents per share, in the July-September quarter, nearly flat compared to $160 million, or 9 cents a share, a year earlier.

Excluding one-time items, Disney earned 30 cents per share. Analysts, on average, were expecting earnings of 56 cents per share on that basis, according to FactSet.

Revenue grew 9% to $20.15 billion from $18.53 billion. Analysts were expecting revenue of $21.27 billion.

Disney said it ended its fiscal year with more than 235 million subscribers to its streaming services. That's above analysts' expectations of 231.5 million.

CEO Bob Chapek said the company still expects Disney+ to be profitable in 2024 “assuming we don not see a meaningful shift in the economic climate.”

Shares in Disney, which is based in Burbank, California, fell $6.15, or 6.2%, to $93.75 in after-hours trading.

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Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

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