Walt Disney Company’s Quarterly Earnings Call Is This Week
We’re coming to you on this Sunday evening with a reminder that Disney will be reporting on their quarterly earnings on Thursday, August 12th.
During this chat with investors, we expect Disney to release reports on both the state of the company’s theme park and streaming businesses. The report will be made after the Thursday Markets close.
With the reopening of the theme parks underway insiders are wondering whether the report will show Disney+’s growth starting to decelerate according to Yahoo Finance. We’ve already seen Disney stocks down 2% year-to-date and investors are hoping to see more growth from Disney’s foray into streaming.
As Yahoo Finance tells us, Disney+ which launched in 2019, posted its weakest quarter back in May with subscribers rising by 8.7 million. However, it should be noted that the streamer has still exceeded expectations when it comes to subscriber numbers already surpassing its three year goal of reaching 100 million subscribers.
It will be interesting to see how streaming numbers are but investors will also be paying close attention to theme park revenue and the impact the Delta variant may be having on businesses. BMO Capital Markets told Yahoo Finance, “While rising COVID rates in Florida and potential for incremental restrictions in California bear watching, we don’t think investors will overreact to changes, and expect DIS to grow into its multiple as that business recovers eventually,” BMO Capital Markets analyst Daniel Salmon wrote in a recent note.
Other insiders are expecting the call to reveal that Disney+ will continue to be the linchpin for the company as the theme parks continue their climb to pre-pandemic level.
It will be interesting to see what growth Disney+ has had over the last quarter, the impact the return of theme park visitors is having on revenue as well as what impact COVID-19 continues to have on the company. MickeyBlog will be listening in on the call on Thursday and will be bringing you further news and updates so keep following along!
The call will take place at 4:30 EST. For those interested in listening in, you’ll find a feed available here on Thursday – https://thewaltdisneycompany.com/investor-relations/
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Source: Yahoo Finance