Disney has announced an increase in its cash dividend by 50% on Wednesday, along with better-than-expected fiscal first quarter earnings and narrowed streaming losses. Earnings per share were reported at $1.22, surpassing analyst estimates of $0.99, while revenue came in slightly under expectations at $23.5 billion. The company also revealed plans for a $3 billion share repurchase program in fiscal 2024.
Disney also unveiled several new announcements, including a $1.5 billion investment in Epic Games and exclusive streaming content for “Taylor Swift: The Eras Tour (Taylor’s Version)” on Disney+. Additionally, a “Moana” sequel is set to debut in theaters in November, and the company announced a firmer timeline for the launch of its ESPN streaming service.
The company experienced mixed results in its various business segments, with a narrowed streaming loss but a slight drop in core Disney+ subscribers due to recent price hikes. Disney is continuing its efforts to reach profitability in streaming and has announced a crackdown on password sharing to mitigate these losses.
Overall, Disney is making significant strides to combat challenges in its traditional businesses while expanding its streaming services and content offerings. These developments are aimed at sustaining long-term growth and profitability for the company.
Disney recently announced increased cash dividends by 50% and its earnings per share for the quarter at $1.22, which surpassed analyst estimates of $0.99. Disney announced a $3 billion share repurchase program for fiscal 2024 and unveiled several new announcements, including a $1.5 billion investment in Epic Games and exclusive streaming content for “Taylor Swift: The Eras Tour (Taylor’s Version)” on Disney+. Additionally, a “Moana” sequel is set to debut in theaters in November, and the company announced a firmer timeline for the launch of its ESPN streaming service. The company announced a crackdown on password sharing to mitigate the losses it’s experiencing.