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The Walt Disney Company recently lowered its streaming subscriber outlook. Now the company is scheduled to release its earnings for the latest quarter on November 8, 2022.
How has Disney fared in the last quarter?
Shares of Disney dropped sharply when Covid-19 first hit in 2020. However, the reason for the plunge was logical as the company’s amusement parks were shut down and Disney couldn’t release its movies to theatres due to the restrictions imposed by the government.
But the stock later rose sharply and more than doubled in value due to the streaming business, as people were stuck at home.
In December 2020, Disney said it expects to reach 230 to 260 million subscribers globally by the end of FY2024 for its Disney+ streaming service. However, the figures were revised lower to a new range of 215 to 245 million in August this year, after Disney+ was unable to renew the much-needed rights to the Indian Premier League.
Amid the continuous surge in inflation, the company reportedly passed costs on to its theme park guests by increasing prices. Investors will monitor whether these price hikes result in a decline in sales volumes and impact overall results in the future. The company’s stock has gained around 9% over October but dropped about 5% over the last six months.
What are the expectations from this quarter’s earnings report?
Walt Disney is expected to have added 9 million Disney+ subscribers in Q3. According to FactSet, the company is likely to report earnings of $0.58 per share, up from $0.33 per share in the year-ago period, but down sharply from $1.11 per share in the previous quarter. The company might also report revenues of $21.34 billion for the third quarter.
How to trade Disney’s earnings report?
Traders can capitalise on the entertainment giant’s stock moves without needing to invest a huge amount to buy the shares. Share CFDs allow traders to speculate on a stock’s future price without needing to own the stock. Traders can also use ETFs and trade Indices to trade the company’s earnings reports.
Have you added Disney’s stock to your portfolio?
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