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Disney Q2 Earnings Preview: Could Taylor Swift And Bluey Help Media Giant Beat Estimates?
Media giant The Walt Disney Company (NYSE:DIS) will report second-quarter financial results before market open Tuesday May 7, 2024.
Here’s what analysts predict for earnings, their insights, and key points to watch in the report and conference call.
Earnings Estimates: Analysts expect Disney to report second-quarter revenue of $22.12 billion, according to data from Benzinga Pro.
The estimated revenue would come in higher than last year's second-quarter total of $21.82 billion. Disney has missed revenue estimates from analysts in three of the last five quarters.
Analysts expect Disney to report second-quarter earnings per share of $1.10, compared to 93 cents per share reported in last year's second quarter. The company has beaten earnings per share estimates from analysts in four of the last five quarters, with the other quarter coming in-line with estimates.
Guidance from the company calls for full-year earnings per share of $4.60, which would amount to a 20% year-over-year improvement.
What Analysts Are Saying: A growth-focused approach from Disney CEO Bob Iger was praised by Bank of America analyst Jessica Reif Ehrlich in an early April note.
"Bob Iger now appears to be in command and control and on a growth offensive," Ehrlich said.
The analyst, who has a Buy rating, raised the price target from $130 to $145 at the time.
Ehrlich said Disney's theme park sector is showing strong performance. A carriage deal with Charter could provide a boost to net subscriber growth for Disney+ in the second quarter, the analyst said.
The analyst ...