Disney earnings: What to expect on streaming losses, parks revenue
Disney will announce its latest earnings on Wednesday and the first since Bob Iger returned as CEO.
DAVE BRIGGS: I'm watching the House of Mouse. Disney reporting earnings on Wednesday after the bell. Expectations for revenue of 23.33 billion on EPS of $0.80 a share. Those shares up around 25% this year after that rough go in '22 when the stock fell more than 40%. Streaming losses once again will be in the spotlight. We know parks continued to be healthy. Disney's streaming losses were $1.5 billion in their most recent quarter. They raised Disney+ prices in December by 3 bucks to $11 a month, introducing an $8 ad tier. They will certainly want to spike the football about "Avatar, The Way of Water," number one seven straight weeks, well over $2 billion.
JARED BLIKRE: Impressive, impressive, but when it comes to movie rights, Disney, by the way-- these are some headlines just dropped a few hours ago-- they're exploring the sale of more of their films and TV series to their rivals. And they're seeking to do that because they want more cash from their library, their content library. And they have to satisfy these activist shareholders. So it always gets back to the activist shareholders. And when you're in a-- well, not a recession. When you're in a bear market-- we've been in a bear market for almost a year-- those are the kind of discussions that are--
DAVE BRIGGS: Is that going to quiet Nelson Peltz, though?
JARED BLIKRE: I don't know what's going to.
DAVE BRIGGS: I don't think so.
JARED BLIKRE: I think Disney stock doubling or treble or quadrupling, that might--
DAVE BRIGGS: Bob Iger is giving him the Heisman so far, keeping him out, you know? No thanks.
JARED BLIKRE: You got to do the whole-- you got to do the whole thing there. There you go.
DAVE BRIGGS: Yeah, I gotta-- yeah, all right, proceed.