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Dec 31, 2022
Disney Q1 2023 Earnings Report
Disney's first quarter of fiscal year 2023 earnings were reported, showing revenue growth and a transformation strategy.
Key Takeaways
The Walt Disney Company reported an 8% increase in revenues for the first quarter of fiscal year 2023. Diluted earnings per share (EPS) from continuing operations increased, while diluted EPS excluding certain items decreased. The company is embarking on a significant transformation to maximize the potential of its creative teams and brands, while also reducing expenses.
Revenues for the quarter grew by 8%.
Diluted earnings per share (EPS) from continuing operations increased to $0.70 from $0.63 in the prior-year quarter.
Excluding certain items, diluted EPS for the quarter decreased to $0.99 from $1.06 in the prior-year quarter.
The company is undertaking a significant transformation to maximize creative potential and drive sustained growth.
Forward Guidance
The company is embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises.
Positive Outlook
- Reshaping the company around creativity.
- Reducing expenses.
- Leading to sustained growth.
- Profitability for the streaming business.
- Better position to weather future disruption and global economic challenges.
Challenges Ahead
- Further deterioration in domestic and global economic conditions.
- Deterioration in or pressures from competitive conditions, including competition to create or acquire content and competition for talent.
- Consumer preferences and acceptance of our content, offerings, pricing model and price increases and the market for advertising sales on our DTC services and linear networks.
- Health concerns and their impact on our businesses and productions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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