Walt Disney Shares Jump 4% on Q2 Beat
2022.05.12 00:02
Walt Disney Shares Jump 4% on Q2 Beat
Walt Disney (DIS) shares were trading around 4% higher after-hours following the company’s reported Q2 results, with EPS of $1.08 coming in better than the consensus estimate of $1.06. Revenue grew 23% year-over-year to $19.25 billion, beating the consensus estimate of $18.36 billion.
According to CEO Bob Chapek, The Walt Disney Company (NYSE:DIS) added 7.9 million Disney+ subscribers in Q2, with total subscriptions across all its DTC offerings exceeding 205 million. This also topped Wall Street’s views.
Revenue for Disney Parks, Experiences and Products more than doubled, while Disney Media and Entertainment Distribution saw revenue rise 9%. Direct-to-Consumer revenues for the quarter increased 23%.
“Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services,” CEO Bob Chapek commented.
Shares of Disney were down 32% year-to-date going into the results.
By Davit Kirakosyan.
