Disney Beats Quarterly Estimates as Theme Parks and Zootopia 2 Drive Growth
The Walt Disney Company reported first-quarter revenue of $26 billion. Strong theme park results and theatrical hits helped the giant exceed analyst estimates.
Insights:
The Walt Disney Company reported fiscal first-quarter results for the holiday quarter ended Dec. 27 that exceeded revenue and earnings estimates. Driven principally by its experiences business and the theatrical release of Zootopia 2, the company posted revenue of $26 billion, a 5% increase year-over-year. This figure topped the consensus revenue forecast of $25.7 billion according to analysts surveyed by LSEG. Income before taxes reached $3.7 billion, exceeding the Wall Street projection of $3.5 billion. Adjusted earnings per share fell to $1.63, down 7% from a year earlier, yet remained above the analysts' estimate of $1.57 per share.
