The Walt Disney Company (NYSE:DIS) will report earnings after the closing bell on Wednesday, and investors will be hoping for a better result than the company’s prior quarter showing which sunk its shares by nearly double digits.
The media and entertainment titan is projected to post fiscal third-quarter revenue of $22.48 billion and earnings of $0.97 per share, compared to $21.5 billion and $0.77 per share, respectively, in the year-ago quarter.
The theme parks segment will be one to watch after it delivered 17% year-over-year sales growth a quarter ago.
Conversely, Disney’s media division could struggle due to softening consumer spending and shrinking advertising spending. Disney+, the company’s streaming service, has faced increasing competition and implemented price hikes.
Direct-to-consumer streaming revenue rose 12% year-over-year a quarter ago to $5.51 billion, albeit slower than the 23% growth reported in the same quarter of 2022.
Shares of Disney improved 0.4% Tuesday afternoon to $87.21.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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