Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Walt Disney's full-year earnings: what to expect in Q4 2024

Walt Disney is set to release its full-year and Q4 2024 earnings on 14 November 2024 and the share price remains below key technical resistance levels.

price chart Source: Adobe images

When will Walt Disney report its latest earnings?

Walt Disney is scheduled to report its full-year and fourth quarter (Q4) earnings on Wednesday, 14 November 2024 at 9.50pm AEDT, before market opens.

The backdrop

In the third quarter (Q3) 2024, Walt Disney exceeded expectations on both the top and bottom lines. The company's streaming business, which includes Disney+, Hulu, and ESPN+, achieved profitability for the first time.

“Our performance in Q3 demonstrates the progress we’ve made against our four strategic priorities across our creative studios, streaming, sports, and experiences businesses,” said Robert A. Iger, Chief Executive Officer of The Walt Disney Company.

Walt Disney's Q3 2024 results

Walt Disney Q3 results chart Source: Walt Disney
Walt Disney Q3 results chart Source: Walt Disney

“This was a strong quarter for Disney, driven by excellent results in our entertainment segment both at the box office and in direct-to-consumer (DTC), as we achieved profitability across our combined streaming businesses for the first time and a quarter ahead of our previous guidance,” stated Iger.

Key financials

Expectations for Q4 2024

  • Earnings per share (EPS): $1.10
  • Revenue: $22.47 billion

Comparision to previous quarter

  • EPS: $1.39
  • Revenue: $23.16 billion

Walt Disney's revenue

Walt Disney's revenue chart Source: TradingEconomics
Walt Disney's revenue chart Source: TradingEconomics
Open a free demo account to practice your trading strategy.

Highlights of previous quarter

  • Overall growth: in Q3 2024, Disney experienced strong growth, with total segment operating income rising 19% and adjusted EPS increasing 35%
  • Entertainment segment: operating income tripled year-over-year (YoY), mainly due to significant improvements in direct-to-consumer and content sales/licensing
  • Streaming profitability: profitable performance of direct-to-consumer services, particularly ESPN+, led to positive profitability for Disney's streaming businesses, achieving this a quarter earlier than expected
  • Inside Out 2 success: the film became the highest-grossing of all time, boosting Disney+ sign-ups
  • Sports segment: ESPN saw a 4% increase in operating income, but a decline in Star India led to a 6% decrease in the overall sports segment's operating income
  • Experiences revenue: rose by 2%, though operating income decreased by 3% due to moderated consumer demand.

Walt Disney's experiences segment

Walt Disney's experiences segment chart Source: Walt Disney
Walt Disney's experiences segment chart Source: Walt Disney

Guidance and outlook for Q4

  • EPS growth: due to strong Q3 performance, Disney has raised its full-year adjusted EPS growth target to 30%
  • Cost savings: the company is committed to exceeding previously stated cost-saving targets while focusing on strategic priorities
  • Streaming profitability: Disney expects its streaming services, including Entertainment DTC and ESPN+, to remain profitable in Q4, with a positive long-term outlook for margin improvement
  • Subscriber growth: Disney+ core subscribers are expected to grow modestly in Q4
  • Content profitability: profitability in content sales/licensing is anticipated to stay similar to Q3 levels throughout the fiscal year
  • Experiences segment: due to demand moderation in domestic markets, Q4 operating income is expected to decline by mid-single digits. Influences include the Olympics' impact on Disneyland Paris and economic conditions in China
  • Cruise line demand: strong demand continues for Disney Cruise Line, though Q4 results will reflect pre-launch expenses for new ships, Disney Adventure and Disney Treasure.

Walt Disney technical analysis

Walt Disney's share price has struggled to regain altitude since falling over 60% from its March 2021 high of $203.02 to the September 2023 low of $78.73, which is even lower than its Covid-19 crash low of $79.07.

In late March, a brave attempt to rally ran out of steam ahead of the 200-week moving average (which currently resides at $121.37) before falling back below $100, where it has spent the past four months trading.

Walt Disney weekly chart

Walt Disney weekly chart Source: TradingView
Walt Disney weekly chart Source: TradingView

As viewed on the daily chart below, after falling from a high of $123.74 in late March to a low of $83.91 in August, Walt Disney’s share price has since rallied to be eyeing resistance at $100 - $102 area, which includes the 200-day moving average. Above here resides downtrend resistance at $108.00, stemming from the $203.02 high.

If the Walt Disney share price can see a sustained break over the $100 - $102 area and then above $108, it opens the way for the rally to extend towards longer-term resistance at $120 - $126 area. Be aware that while Walt Disney's share price remains below the $100 - $102 area and below $108, downside risks remain, back into the low $80s.

Walt Disney daily chart

Walt Disney daily chart Source: TradingView
Walt Disney daily chart Source: TradingView
Discover our powerful trading platforms and tools.
  • Source: TradingView. The figures stated are as of 29 October 2024. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access
Learn more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.