On May 7, 2024, The Walt Disney Company (Disney) released its earnings report for the second quarter ended March 30, 2024. The report showed an increase in revenues to $22.1 billion, up from $21.8 billion in the same quarter of the previous year. However, Disney reported a nominal loss in diluted earnings per share (EPS) of $0.01, compared to an income of $0.69 per share in the prior-year quarter, primarily due to goodwill impairments. Excluding certain items, diluted EPS for the quarter increased to $1.21 from $0.93 in the prior-year quarter. The company highlighted strong double-digit percentage growth in adjusted EPS and met or exceeded financial guidance for the quarter. Disney also announced a new full-year adjusted EPS growth target of 25% and remains on track to...Show More

On May 7, 2024, The Walt Disney Company (Disney) released its earnings report for the second quarter ended March 30, 2024. The report showed an increase in revenues to $22.1 billion, up from $21.8 billion in the same quarter of the previous year. However, Disney reported a nominal loss in diluted earnings per share (EPS) of $0.01, compared to an income of $0.69 per share in the prior-year quarter, primarily due to goodwill impairments. Excluding certain items, diluted EPS for the quarter increased to $1.21 from $0.93 in the prior-year quarter. The company highlighted strong double-digit percentage growth in adjusted EPS and met or exceeded financial guidance for the quarter. Disney also announced a new full-year adjusted EPS growth target of 25% and remains on track to generate approximately $14 billion in cash provided by operations and over $8 billion in free cash flow for the fiscal year. The Entertainment Direct-to-Consumer business was profitable in the second quarter, with Disney+ Core subscribers increasing by more than 6 million. The Experiences business also contributed to growth, with revenue increasing by 10% and operating income by 12%. CEO Robert A. Iger expressed confidence in the company's strategic priorities and growth initiatives, citing strong performance in the Experiences segment and streaming business. The report included detailed financial results and segment performance, as well as a message from the CEO outlining the company's achievements and future outlook.