Watching Walt Disney shares amid expected higher profit this week
Walt Disney is scheduled to report on Wednesday and is expected to post earnings of 71 cents per share, on revenue of £21.37 billion
This compares with EPS of 30 cents and revenue of $20.15Bln the same quarter a year ago. It was at this time last year that Bob Chapek was dismissed after a poor set of earnings, and replaced by Bob Iger, who initiated a $5.5Bln cost cutting plan, eliminating 7,000 jobs. Walt Disney also made headlines last week when it announced it was willing to buy from Comcast the 33% of Hulu it doesn't own. IGTV’s Angela Barnes has this round-up.
(AI Video Transcript)
Walt Disney
Walt Disney, the entertainment giant, is going to release its latest earnings report on Wednesday. It is predicted that the company will announce earnings of $0.71 per share and revenue of $21.37 billion. This is a big jump from the same time last year, when they reported earnings of $0.30 per share and revenue of $20.15 billion. This positive outlook follows the company's 100th anniversary celebration last month.
Bob Chapek
Last year, during the same period, Bob Chapek was fired as Walt Disney's CEO after the company reported disappointing earnings. He was replaced by Bob Iger, who took charge and implemented a cost-cutting plan of $5.5 billion, which involved eliminating 7,000 jobs. The aim was to improve the company's financial performance. It will be interesting to see if these measures have had a positive impact on the company's earnings this quarter.
Comcast
Walt Disney also made recent headlines by announcing its interest in purchasing the remaining 33% stake in Hulu from Comcast. The company is willing to pay $8.6 billion for this stake, valuing Hulu at $27.5 billion. However, negotiations between the two groups are likely to be challenging because Comcast's CEO believes that Hulu is worth more than double the offered amount. Despite the potential difficulties, the market responded positively to the news, and Disney's stock prices increased, bouncing back from a low point that occurred last month.
Walt Disney's upcoming earnings report
All in all, Walt Disney's upcoming earnings report is highly anticipated, and analysts forecast a significant improvement compared to the same time last year. Additionally, the potential acquisition of the remaining stake in Hulu shows Disney's ongoing efforts to expand its presence in the entertainment industry.
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