View of the Walt Disney statue in front of Cinderella Castle inside Magic Kingdom park at the Walt Disney World Resort in Lake Buena Vista, Florida.
All eyes will be on disneythe company’s streaming numbers when the company releases its fiscal fourth quarter results after the bell on Tuesday.
The streaming space is in upheaval. netflix in July revealed a further drop in subscriber numbers, and Discovery of Warner Bros. is in the midst of a major change in content strategy. As Netflix expects subscriber growth to rebound, the uncertainty has left analysts and investors wondering what the future holds for the industry at large.
Analysts anticipate the addition of Disney+ subscribers of around 8 million for the period between July and September, bringing the total number of users to more than 160 million, according to estimates from StreetAccount.
Here’s what Wall Street expects from the quarterly report:
- Earnings per share: 55 cents expected, according to a Refinitiv survey of analysts
- Revenue: $21.24 billion expected, according to Refinitiv
- Total Disney+ Subscriptions: 160.45 million expected, according to StreetAccount
Shares of Disney have fallen 34% since January and more than 42% over the past 12 months, as investors wonder if the company can sustain continued growth amid higher inflation. There are also concerns that a looming recession could impact Disney’s other business ventures, such as its parks and studios.
Disney’s parks, experiences and consumer products division has been strong in recent quarters as more travelers venture to its national theme parks and spend money on merchandise.
Its studio division should see a boost from ticket sales of Marvel’s “Doctor Strange in the Multiverse of Madness” and “Thor: Love and Thunder,” which performed well at the box office.
Opening later this week is “Black Panther: Wakanda Forever,” followed by “Avatar: The Way of Water” in mid-December. Both films are expected to be major ticket sales drivers for theaters.
This is breaking news. Check back for updates.