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Wednesday, May 25, 2022

The Walt Disney Company (DIS) stock is gaining pre-market. Here’s why

On February 9, 2022, The Walt Disney Company (DIS) stock closed the trading session at $147.23, gaining 3.33% from the previous trading session. DIS continues to grow in the pre-market, gaining 7.55% to $158.35. The gain in the stock price of DIS came after the company announced the financial result for Q1 of FY22.


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Financials

The Walt Disney Company released the financial result for Q1 of the financial year 2022, which ended on January 1, 2022. The revenue of DIS for the first financial quarter of 2022 was $21.8 billion against $16.2 billion in the same quarter of FY21. DIS recorded an increase of 34% in the revenue. Earnings per share (EPS) of Walt Disney during Q1 of FY22 was announced to be $0.63 against $0.02 in the same quarter of FY21. The net income for the first quarter of FY22 was $1.10 billion in comparison to $17 million in the same quarter of the previous financial year. Disney+, a streaming platform, posted an increase of 11.8 million users during Q1 of 2022.

The revenue for the Disney parks, experiences, and products for the first quarter of FY22 rose to $7.2 billion in comparison to $3.6 billion in the same quarter of FY21. Section operating income increased to $2.5 billion as compared to the loss of $0.1 billion in Q1 of the previous financial year.

The revenue from Disney media and entertainment for the first quarter of the fiscal year 2022 was announced to be $14.5 billion as compared to $12.6 billion in Q1 of FY21, posting an increase of 15%. The operating income for Q1 of 2022 was announced to be $0.80 billion in comparison to $1.4 billion in the similar quarter of 2021, losing 44%.

Management Remarks

The Chief Executive Officer (CEO) of DIS, Bob Chapek, said that they had a great start to the financial year with a significant increase in the earnings per share (EPS), operating income, revenues, and the total subscription on the streaming platforms. He added that their unique assets, creativity, and culture give him the confidence about defining entertainment for the next 100 years.

The Chief Financial Officer (CFO) of Walt Disney, Christine McCarthy, said that Disney hopes to spend essentially on the streaming platforms in the coming quarter. She added that the company expects the programming and production cost to increase by $800 million to $1 billion.

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