Disney tops Wall Street expectations

The Walt Disney Company (DIS) reported its first fiscal quarter ended January 1, 2022 after the closing bell on Wednesday.

The US media giant reported total revenue of $21.819 billion (34% increase year-over-year), beating analyst estimate of $20.27 billion.

Earnings per share at $1.06 vs. analyst forecast of $0.74.

”We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic parks and resorts, the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio to 196.4 million, including 11.8 million Disney+ subscribers added in the first quarter,” said Bob Chapek, the CEO of The Walt Disney Company.

”This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 year,” Chapek added.

The Walt Disney Company chart (weekly)

Disney shares were up by 3.33% at market close on Wednesday at $147.21 per share. Here is how the stock has performed in the past year –

• 1 Month: -5.28%
• 3 Month: -9.18%
• Year-to-date: -4.95%
• 1 Year: -22.88%

Walt Disney is the 31^st largest company in the world, with a total market cap of $268.02 billion.

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Sources: The Walt Disney Company, TradingView, CompaniesMarketCap