Disney Shares Surge To New Highs After Streaming Subs, Earnings Beat

Despite the company’s theme parks in California having been shuttered for almost a year, Disney managed strong performance across the board in Q1.

Top- and Bottom-line beat…

• Disney 1Q Rev. $16.25B, Est. $15.91B

• Disney 1Q Adj EPS 32c, Est. Loss/Shr 38c

But all eyes were focused on streaming subs, which also beat…

• Disney 1Q Disney+ Subscribers 94.9M, Est. 90.7M

• 1Q ESPN+ Subscribers 12.1M, Est. 11.5M

• 1Q Total Hulu Subscribers 39.4M, Est. 38.4M

“We’re confident that, with our robust pipeline of exceptional, high-quality content and the upcoming launch of our new Star- branded international general entertainment offering, we are well-positioned to achieve even greater success going forward,” Bob Chapek, Chief Executive Officer, said.

Not entirely surprising, given the impact of COVID, all the line-items are down from pre-COVID still…

So Parks revenue down 53% YoY, vet streaming is saving the day as usual…

Streaming revenue $35.BN, up 73%, resulting in $0.5BN loss, half of year earlier

And the reaction is unanimous – for now – with DIS hitting fresh record highs…

…the happiest shareholders on earth?