Disney shares rise following Q1 earnings beat, Disney+ subscriber growth #NewsUnitedStates

Yahoo Finance’s Jared Blikre breaks down first-quarter earnings for Disney.

Video Transcript

BRAD SMITH: We’re also tracking Disney in afterhours trading. Those shares for DIS up by about 8 and 1/2%. And for that and the earnings results, we bring in Yahoo Finance’s Jared Blikre with more on the house of mouse, Disney.

JARED BLIKRE: That’s right. Disney just wrapped its 100th, 101st year, 101st years. And guess what? Nice, nice results. First quarter results for their fiscal year, adjusted EPS coming in almost double what the Street expected, $1.06. Estimate was for $0.57. Revenue also beating nicely, $21– $21.82 billion. Estimate was for a bit lower, $20.85 billion.

And the way that breaks down, media and entertainment distribution revenue, that was about $14.59 billion. Estimate was exactly that number. Parks, experience, and products revenue that came in at $7.23 billion. And that beat the estimate by about a billion. And also total segment operating income, that came in at $3.26 billion. And that is divvied up as follows. For the media and entertainment group, that’s $808 million. And then the parks, experience, and products, that came in– that operating income came in at $2.45 billion.

But the key statistic here I think the market is running with is those subs. Disney+ added 11.8 million subscribers in the first quarter. That brings the total to 129.8 million. The estimate was for far lower, about 4 million lower at 125.1. First quarter ESPN+ subscribers also beat, 21.3 million versus the estimate of 18.8 million. And you put it all together, all those streaming numbers, 196.4 million.

And here is some commentary by the company in its report. They’re saying 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 years I looked it up, and their incorporation date, their start date was October 16, 1923 in Los Angeles, California.