Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0790
    -0.0003 (-0.03%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2619
    -0.0003 (-0.02%)
     
  • USD/JPY

    151.3220
    -0.0500 (-0.03%)
     
  • Bitcoin USD

    70,136.95
    -343.62 (-0.49%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Disney earnings: Investors eye potential layoffs, Bob Iger’s tone

Yahoo Finance’s Allie Canal joins the Live show to discuss the expectations for Disney earnings.

Video Transcript

- Well we'll all be all over Disney's earnings coming out this afternoon. But for a quick look at what to expect from the report and, of course, from the earnings call, let's welcome in Yahoo Finance's Allie Canal. A big one today, Allie.

ALLIE CANAL: Yes, [INAUDIBLE] a big one. And there's three things in particular that I'm going to be focused on later this afternoon. Number one is Bob Iger's overall streaming strategy, especially when it comes to profitability plans and subscriber guidance. I wouldn't be surprised if we saw Disney revise its guidance for Disney Plus. The company previously said the platform would turn a profit by fiscal 2024 and that Disney Plus would reach global subscribers between, 215 to 245 million, by 2024. But since the emphasis has clearly shifted away from subscriber growth, we could see an update there.

Number two-- I'm going to be looking for more announcements surrounding layoffs and restructuring. Disney has hinted that this is coming, but we haven't seen any concrete details. Bob Iger did reveal during the town hall last month that he will not be reversing the hiring freezes that were last implemented by former CEO Bob Chapek. So we know that cost cuts are coming. Usually, that's in the form of layoffs.

And then finally, number three-- I'm going to be focused on Bob Iger's overall tone. This is the first earnings report that he will be delivering since stepping back into that CEO position. So what he chooses to address, and more importantly, how he chooses to address certain challenges the company has faced, that's going to be paramount for investors. And just a reminder that we're going to be diving deeper into this earnings report on or after the call special later this afternoon immediately following the results. You won't want to miss it. Brad, Seana, and myself will be breaking everything down. And as you mentioned, there's certainly a lot to discuss.

- Indeed. Allie, do you think he's going to touch on the activist investor angle as well, or do you think-- can he afford to not talk about it? Will investors be looking for that?

ALLIE CANAL: I don't think he's going to directly address it unless he is asked about it. And it's quite possible that on the call, one of the analysts could ask a question about it. But I think right now, Bob Iger sort of sees this as a distraction. And there are other things that he really needs to dive into, other main issues for the company. And again, I'm going back to that overall streaming strategy. What is the plan for Disney? What is the focus?

We have reports that they potentially want to license content. That's all well and good, but what does that mean for their platforms like Disney Plus, Hulu, and ESPN Plus? So I think that's going to be the focus for him. He's going to try to avoid the Nelson Peltz fight. If he can successfully do that, we will see. Again, it could come up on the call. But I do think, at the end of the day, there are other things that investors really need to get a clearer picture on.

- Indeed. Great stuff. We'll be looking forward to that later on this evening. Allie Canal, thank you for that update.

Advertisement