Disney share price up 1% on Q2 results revenue beat
The entertainment company's stock rises after a positive Q2 earnings report.
Disney share price is up 1% after its Q2 earnings reports beat Wall Street estimates.
Disney earnings: key figures
| Earnings per share | $1.61 |
| Revenue | $14.92 billion |
| 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.
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
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
