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Walt Disney Results Beat in Q1 as Streaming, Parks Divisions Drive Growth

Published 02/09/2022, 04:10 PM
Updated 02/09/2022, 05:08 PM
© Reuters.  Walt Disney Earnings, Revenue Beat in Q1

© Reuters. Walt Disney Earnings, Revenue Beat in Q1

By Yasin Ebrahim

Investing.com - Walt Disney (NYSE:DIS) reported Wednesday fiscal first quarter results that beat analysts' forecasts as its parks division more than doubled revenue and its streaming business added more subscribers than expected.

Walt Disney shares gained 8.8% in after-hours trade following the report.

Walt Disney announced earnings per share of $1.06 on revenue of $21.82B. Analysts polled by Investing.com anticipated EPS of $0.7319 on revenue of $20.27B.

Disney’s parks, experiences and products reported revenue that more than doubled to $7.23 billion from the same period last year. That offset a decrease in its consumer products business, which was weighed down by the closure of a number of Disney-branded retail stores in North America and Europe in the second half of fiscal year 2021.

Disney+, its streaming business, reported new subscriber adds of 129.8 million, up from 94.9 million a year earlier, and beating expectations for 125.75 million.
Average monthly revenue per subscriber in its domestic market increasing to to $6.68 from $5.80, while international subscribers, which excluded Disney+ and Hostar, rose to $5.96 from $4.73, underpinned by a rise in retail prices.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

dis maybe starting a recovery rally... waiting for technical verification.....
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