por admin » Mar Feb 04, 2020 4:11 pm
Disney earnings: $1.53 per share, vs $1.44 EPS expected
PUBLISHED 36 MINS AGO UPDATED 2 MINS AGO
Annie Palmer
@annierpalmer
CNBC.COM
The results will mark Disney's first earnings report since the company launched its new streaming service, Disney+, last November.
Disney said it surpassed 10 million sign-ups for the service after its first day.
Analysts will also be looking for any impact on Disney's theme park business after it closed its Shanghai and Hong Kong resorts amid the coronavirus outbreak.
Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange, November 27, 2017 in New York City.
Getty Images
Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange, November 27, 2017 in New York City.
Disney is slated to report its fiscal first-quarter earnings after the closing bell on Tuesday.
Here's what analysts are expecting for the quarter:
Earnings per share: $1.44 per share, according to analysts surveyed by Refinitiv
Revenue: $20.79 billion, per Refinitiv
The results will mark Disney's first earnings report since the launch of its new streaming service, Disney+, last November. Disney said it surpassed 10 million sign-ups for the service in just the first day, while independent app-tracking company Apptopia reported in December that Disney+ was downloaded 22 million times on mobile devices since the launch.
Analysts are expecting Disney to report strong subscriber numbers in its fiscal first-quarter results. Guggenheim's Michael Morris estimates Disney+ crossed 25 million paid domestic subscribers at the end of December, according to a recent research note. Morris added that Wall Street will be looking for Disney to share any projections for Disney+'s growth trajectory and international subscriber numbers.
Disney's theme park business will also be in focus. In its fiscal fourth-quarter results, Disney said its theme park business was hit hard by the protests in Hong Kong. The company said it expected operating income at Hong Kong Disneyland to fall by about $80 million in the first quarter and up to $275 million for the full year.
Disney is one of numerous U.S. companies that have suspended operations in China as the coronavirus outbreak worsens. The company closed its Shanghai Disney resort on Jan. 25 until further notice and temporarily closed its Hong Kong Disneyland Park.
The company's domestic parks could be a bright spot in the quarter, however. Disney opened its first Star Wars: Galaxy's Edge park in California last June, followed by the Rise of the Resistance ride last December.
Outside of parks, Disney's studio entertainment segment is expected to see a boost from the debuts of "Star Wars: The Rise of Skywalker" and "Frozen II" late last year. "Frozen II" surpassed the $1 billion mark last December, making it the sixth 2019 release to cross the billion-dollar threshold. "Star Wars: The Rise of Skywalker" became the second-highest single-day gross on Christmas Day in box-office history.