5 Stocks Making Headlines After Earnings Reports

2. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 101

Shares of The Walt Disney Company (NYSE:DIS) rose over three percent on Thursday, February 10, 2022, after delivering upbeat financial performance for its fiscal first quarter. The entertainment and media giant earned $1.06 per share on an adjusted basis, well above 32 cents per share in the year-ago period. The numbers were also significantly higher than the consensus forecast of 63 cents per share.

Revenue for the quarter surged 34 percent versus last year to $21.82 billion, while analysts expected The Walt Disney Company (NYSE:DIS)  to generate revenue of $20.91 billion. Revenue from its parks, experiences and products segment jumped more than two folds on a year-over-year basis to $7.23 billion in the quarter.

Among other updates, The Walt Disney Company (NYSE:DIS) reported that its total Disney+ subscribers reached 129.8 million at the end of Q1, compared to 94.9 million in the same period one year ago.

Speaking on the results, CEO Bob Chapek said:

“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.”