“Analysts surveyed by FactSet had on average expected adjusted earnings of 56 cents a share on revenue of $21.27 billion,” reported MarketWatch. Michael Nathanson of MoffettNathanson said this was “the biggest controversy” in Disney’s earnings report. As reported by Deadline, Nathanson said, Wall Street had forecasted “25% growth.” He went on to say that they even had Disney’s growth at 34% next year. Disney reported a Q4 net income Stock trading of $162 million on sales of $20.15 billion. This was up from $18.53 billion a year ago, however it was more than $1 billion short of expectations. The reason, according to MarketWatch, was executives predicted much slower sales increases in the year ahead while missing expectations for fourth-quarter earnings and sales. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.
- Disney reported a Q4 net income of $162 million on sales of $20.15 billion.
- As reported by Deadline, Nathanson said, Wall Street had forecasted “25% growth.” He went on to say that they even had Disney’s growth at 34% next year.
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- “DTC margins may improve, but overall margins aren’t,” he warned in the subject of his report.
Cowen analyst Doug Creutz also stuck to his “market perform” rating on Disney, but reduced his stock price target from $124 to $94 “given a roughly 35 percent cut” to his fiscal year 2023 earnings per share projection. “DTC margins may improve, but overall margins aren’t,” he warned in the subject https://trotons.com/invest-in-walt-disney-company-dis-with-dotbig-forex-broker/ of his report. McCarthy also stated that “we currently expect total company fiscal 2023 revenue and segment operating income to both grow at a high single-digit percentage rate versus fiscal 2022.” This is contrary to what many analysts’ forecasts of double-digit growth for the company.
More from The Hollywood Reporter
FactSet does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. At the time of press, the stock was hovering around $88.50, down from just slightly under $100.00 yesterday.
The Hollywood giant’s stock fell on Wednesday as Wall Street reacted to its latest quarterly results, including streaming losses and the impact of cord-cutting on the traditional TV business. Yesterday, The Walt https://www.cnbc.com/money-in-motion/ Disney Company reported on their Q4 earnings [$DIS], and although they “reported record sales and its best revenue growth in more than 25 years,” that wasn’t enough to keep Wall Street and investors happy.