Disney share price up 1% on Q2 results revenue beat
The entertainment company's stock rises after a positive Q2 earnings report.
|Earnings per share||$1.61|
|Theme park revenue||$1.5 billion|
|Studio entertainment revenue||$534 million|
Disney share price up as Q2 results beat estimates
Disney’s Q2 earnings per share were $1.61, exceeding the $1.58 predicted by financial experts. Disney’s Q2 revenue was $14.92 billion, surpassing the projected $14.36 billion. The corporation’s revenue likely grew with the completed $71 billion acquisition of 21st Century Fox. Disney’s Q2 results included ownership of Fox for the past two weeks, with Fox’s revenue totaling $373 million.
The company’s theme park revenue surged to $1.5 billion, an increase of 15%. Disney’s theme parks likely increased revenue because of raised ticket prices in anticipation of its ‘Star Wars’ rides later in the year.
Disney’s Q2 earnings also grew because of its investment in streaming video, with $955 million in revenue from its sports app, ESPN+ and stake in streaming company Hulu.
The only negative statistic was studio entertainment income. There was a lack of a blockbuster movie in the last quarter, but revenue from current hit ‘Avengers:Endgame’ will be factored into Disney’s Q3 earnings.
Chief executive officer, (CEO), Bob Iger, spoke about Disney’s Q2 profits in a statement.
‘The positive response to our direct-to-consumer strategy has been gratifying, and the integration of the businesses we acquired from 21st Century Fox only increases our confidence in our ability to leverage decades of iconic storytelling and the powerful creative engines across the entire company to deliver an extraordinary value proposition to consumers,’ said Iger.
How did Disney’s Q2 earnings compare to other entertainment companies?
Disney’s Q2 revenue was positive compared to rival Netflix. Disney is launching a streaming service, Disney +, to compete with Netflix later this year, and both corporations beat Wall Street estimates.
Disney's Q2 earnings grow from theme parks and Fox merger
Disney’s Q2 revenue increased from the live entertainment of theme parks and video content of Fox, ESPN, and Hulu. The entertainment company hopes to add more consumers with Disney+ in the future.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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
Live prices on most popular markets