Disney After Jumps After Strong Earnings, UAE Park News
29 minutes ago
Shares of The Walt Disney Company (DIS) rose in premarket trading Wednesday after the media and entertainment giant’s fiscal second-quarter results came in better than analysts had expected.
Disney reported adjusted earnings per share (EPS) of $1.45 on revenue of $23.62 billion. Analysts had expected $1.20 and $23.17 billion, respectively, per Visible Alpha.
“Following an excellent first half of the fiscal year, we have a lot more to look forward to, including our upcoming theatrical slate, the launch of ESPN’s new DTC offering, and an unprecedented number of expansion projects underway in our Experiences segment,” CEO Bob Iger said. “Overall, we remain optimistic about the direction of the company and our outlook for the remainder of the fiscal year.”
Separately on Wednesday, Disney announced a partnership with Abu Dhabi-based developer Miral to build its seventh theme park on Yas Island in the capital of the United Arab Emirates. The companies said that Disney will lead the creative efforts, while the resort will be built and operated by Miral
Disney lifted its adjusted EPS outlook for the fiscal year to $5.75, which would represent a 16% increase from fiscal 2024. Last quarter, it said it expected adjusted EPS to grow by a high-single-digit percentage.
The company said it will “continue to monitor macroeconomic developments for potential impacts to our businesses and recognize that uncertainty remains regarding the operating environment for the balance of the fiscal year.”
Disney shares were up 8% in recent premarket trading. They entered the day down roughly 17% since the start of the year.
Major Index Futures Point to Higher Open
1 hr 14 min ago
Futures tied to the Dow Jones Industrial Average were up 0.7%.
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S&P 500 futures were up 0.6%.
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Nasdaq 100 futures also rose 0.6%.
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