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Walt Disney Company Share Price Drops 7% After Disney Parks Segment Revenue Increases To $7.43 Billion

News - WDC 09-Nov-2022

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The Walt Disney Company posted Q4 Non-GAAP EPS of $0.30 (analysts were expecting $0.56) with Revenue of $20.15 Billion (analysts were expecting $21.44 Billion). The revenue for Disney Parks, Experiences and Products revenue last quarter came in at $7.43 Billion (up 36%) with operating income (or profit after costs) came in at $1.51 Billion (up 137%). Which means the Disney Parks, Experiences and Products segment operates at about a 20.4% profit margin. The primary reason for missed earnings was due to Disney+. Even though Disney added 57 million subscriptions this year for a total of more than 235 million, Disney+ is operating at quite a heavy loss, and they expect to achieve profitability in fiscal 2024.

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