Disney (DIS) Up 0.2% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for Walt Disney (DIS). Shares have added about 0.2% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Disney due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Disney Q2 Earnings Beat Estimates, Revenues Rise Y/Y
The Walt Disney Company reported second-quarter fiscal 2023 adjusted earnings of 93 cents per share, beating the Zacks Consensus Estimate by 4.49% but declining 13.9% year over year.
Revenues increased 13.3% year over year to $21.82 billion but missed the consensus mark by 0.03%.
Media and Entertainment Distribution (64.4% of revenues) revenues increased 3.1% year over year to $14.04 billion.
Revenues from Linear Networks declined 7% year over year to $6.63 billion. Direct-to-Consumer revenues increased 12.5% year over year to $5.51 billion. Content Sales/Licensing and Other revenues increased 17.7% year over year to $2.2 billion.