Analysts said Disney performed well in its cruise and parks business, but they noted those positives need to be weighed against the weakness seen in media.
After its latest quarterly report, Wall Street analysts are weighing if Disney 's cost-cutting measures and strength in its experiential businesses can outweigh challenges within the media giant's streaming service. On Wednesday, the major media conglomerate reported 93 cents in adjusted earnings per share for its second fiscal quarter, exactly in line with the consensus estimate of analysts polled by Refinitiv. Disney slightly beat the quarterly revenue estimate, posting $21.
"Given the segment operating income beat and narrowing of DTC losses, we would not be surprised if shares traded modestly higher tomorrow," Bazinet said in a note to clients Wednesday. Meanwhile, Evercore ISI analyst Vijay Jayant noted the second-quarter operating income beat was primarily due to the timing of the Disney+ and Hulu release slate moving. Due to that, the firm's full-year estimate hasn't changed.
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