Walt Disney shares up 3.2% after Q4 earnings

He told investors "while we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again." It comes as Walt Disney exceeded Wall Street's earnings expectations at 82 cents per share, to be compared with the 30 cents recorded last year and 11 cents higher than analysts' forecasts. Revenue however narrowly missed forecasts. Disney reported nearly seven million Disney+ streaming subscribers in the quarter. Disney+ and Disney+ Hotstar together boast 150.2 million subscribers, ahead of an estimate of 147.4 million. Disney now says it is on track to achieve $7.5 billion in annualised savings, as it aggressively manages costs, and the company plans to reinstate a dividend payment to shareholders by the end of 2023.

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Disney's shares

Disney's shares jumped higher after the company impressed investors with its earnings results for the fourth quarter. They made 82 cents per share, which is more than double what they made in the same period last year and exceeded analysts' expectations. However, their revenue fell slightly short of predictions. The company's streaming service, tastylive, had an impressive seven million subscribers for the quarter, and when combined with tastylive Hotstar, they now have a whopping 150.2 million subscribers, surpassing what experts had estimated.

Disney's entertainment unit

Disney's entertainment unit, which includes their TV networks, film studios, and streaming services, made an operating profit of $236 million, a significant turnaround from the previous year's loss of over $600 million. The company was struggling due to an ongoing strike by actors, but it seems like the strike may be coming to an end soon, allowing the actors to get back to work.

Disney's experiences segment

In addition, Disney's experiences segment, which includes their theme parks, resorts, cruise lines, and consumer products, saw a notable increase in operating income, reaching $1.8 billion. CEO Bob Iger expressed his satisfaction with the progress they have made under his leadership, saying that their efforts to address problems have put them on a path towards rebuilding their business.

The stock chart

The stock chart clearly shows that Disney's shares are on the rise, reaching levels not seen since mid-August. The stock closed at $87.32, and investors are eagerly waiting to see how the market will react when it opens at 9 o'clock UK time. The market will likely respond to the news of a potential deal with the actors' union, as reported by the L.A. Times.

All in all, Disney seems to be in a strong position both financially and in terms of its reputation in the world. They have exceeded expectations in their earnings, are attracting a significant number of subscribers to their streaming services, and their entertainment and experiences segments are showing signs of improvement.