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$DIS (-0,24%) | Walt Disney Q4 '24 Earnings Highlights:


๐Ÿ”น EPS: $1.14 (Est. $1.10) ๐ŸŸข; UP +39% YoY

๐Ÿ”น Revenue: $22.6B (Est. $22.48B) ๐ŸŸข; UP +6% YoY

๐Ÿ”น Disney+ Core Paid Subscribers: 122.7M (Est. 119.85M) ๐ŸŸข


FY25 Guidance:

๐Ÿ”น Adj EPS Growth: High-single digit YoY (Est. +4%) ๐ŸŸข

๐Ÿ”น Cash from Operations: Approximately $15B

๐Ÿ”น Capital Expenditures: Approximately $8B

๐Ÿ”น Share Repurchases: Targeting $3B

๐Ÿ”น Dividend Growth: Expected to track earnings growth


FY26 and FY27 Long-Term Guidance:

๐Ÿ”น FY26 EPS Growth: Double digit

๐Ÿ”น FY26 Cash from Operations: Double digit growth

๐Ÿ”น FY27 EPS Growth: Double digit


Q4 Subscriber Metrics:

๐Ÿ”น Disney+ Core Paid Subscribers: 122.7M (Est. 119.85M) ๐ŸŸข; UP +4% QoQ

๐Ÿ”น Hulu Total Subscribers: 52M (Est. 51.1M) ๐ŸŸข; UP +2% QoQ


Q4 Segment Revenue:

๐Ÿ”ธ Entertainment: $10.83B (Est. $10.66B) ๐ŸŸข; UP +14% YoY

๐Ÿ”น Linear Networks: $2.46B; DOWN -6% YoY

๐Ÿ”น Direct-to-Consumer (DTC): $5.78B; UP +15% YoY

๐Ÿ”น Content Sales/Licensing and Other: $2.59B; UP +39% YoY


๐Ÿ”ธ Sports: $3.91B; FLAT YoY

๐Ÿ”น ESPN Domestic: $3.49B; UP +1% YoY

๐Ÿ”น Star India: $58M; DOWN -37% YoY


๐Ÿ”ธ Experiences: $8.24B (Est. $8.2B) ๐ŸŸข; UP +1% YoY

๐Ÿ”น Domestic Parks & Experiences: $5.52B; UP +3% YoY

๐Ÿ”น International Parks & Experiences: $1.58B; DOWN -5% YoY

๐Ÿ”น Consumer Products: $1.14B; UP +2% YoY


Q4 Segment Operating Income:

๐Ÿ”ธ Entertainment: $1.07B; UP >100% YoY, driven by:


๐Ÿ”ธ DTC Operating Income: $253M; UP from a loss of $420M YoY, supported by higher ad revenue, increased retail pricing, and improved efficiency in Disney+


๐Ÿ”ธ Content Sales/Licensing and Other: $316M; UP from a loss of $149M YoY, due to box office successes including Inside Out 2 and Deadpool & Wolverine


๐Ÿ”ธ Linear Networks: $498M; DOWN -38% YoY, affected by reduced affiliate and advertising revenue and higher marketing costs


๐Ÿ”ธ Sports: $929M; DOWN -5% YoY, impacted by:

๐Ÿ”น Increased college football rights costs and reduced NFL game broadcasts

๐Ÿ”น Lower affiliate revenue from fewer subscribers, partially offset by rate increases

๐Ÿ”น Improved ad revenue due to higher rates and sponsorship


๐Ÿ”ธ Experiences: $1.66B (DOWN -6% YoY), driven by:

๐Ÿ”น Domestic Parks & Experiences: $847M; UP +5% YoY, supported by increased guest spending at parks and cruise lines

๐Ÿ”น International Parks & Experiences: $299M; DOWN -32% YoY, affected by lower attendance and increased costs for new guest offerings


๐Ÿ”ธ Consumer Products: $513M; UP +1% YoY


FY24 Summary:

๐Ÿ”น Total Revenue: $91.4B; UP +3% YoY

๐Ÿ”น Total Segment Operating Income: $15.6B; UP +21% YoY

๐Ÿ”น Cash Provided by Operations: $13.97B; UP +42% YoY

๐Ÿ”น Free Cash Flow: $8.56B; UP +75% YoY


Additional FY25 Segment-Specific Guidance:

๐Ÿ”น Entertainment: Anticipates double-digit segment operating income growth, weighted towards the first half of the year

๐Ÿ”น Sports: 13% segment operating income growth on a reported basis, though excluding India, operating income is expected to decline approximately 10%

๐Ÿ”น Experiences: Projected segment operating income growth of 6%-8%, weighted to the second half of the year

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