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Bloomberg Businessweek
Disney Earnings Top Estimates as Cost Cuts, Parks Deliver Gains
Feb 7, 2024
09:01
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Disney's strong earnings in Q1 attributed to cost cuts and success of international parks. The conflict with activist investors and Bob Iger's focus on performance. Disney's connections to Apple and Epic Games, potential future deal, and investments in gaming industry.
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Quick takeaways
- Disney's performance in international parks was a bright spot, signaling progress in making the Disney Plus streaming business profitable.
- Disney's $1.5 billion investment in Epic Games suggests a strategic move to explore opportunities in the gaming industry and expand its offerings.
Deep dives
Disney's strong performance in Q1 boosts stock
Shares of Disney rose 5.6% after the company reported better-than-expected earnings for its fiscal first quarter. While revenue fell short of estimates, the bright spot was the performance of international parks. The earnings release signaled progress in making the Disney Plus streaming business profitable, which has been a key goal for the company. Investors responded positively to the news, as it showed that Disney's cost-cutting initiatives and focus on profitability are gaining traction.
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