All eyes will be on Disney‘s streaming numbers when the company reports its fiscal fourth-quarter earnings after the bell Tuesday.
The streaming space is in a state of upheaval. Netflix in July disclosed another drop in subscribers, and Warner Bros. Discovery is in the midst of a major shift in content strategy. While Netflix expects subscriber growth to rebound, uncertainty has left analysts and investors wondering what the future holds for the broader industry.
Analysts are anticipating Disney+ subscriber adds of roughly 8 million for the period between July and September, bringing the total number of users to more than 160 million, according to StreetAccount estimates.
Here’s what Wall Street expects from the quarterly report:
- Earnings per share: 55 cents expected, according to a Refinitiv survey of analysts
- Revenue: $21.24 billion expected, according to Refinitiv
- Disney+ total subscriptions: 160.45 million expected, according to StreetAccount
Shares of Disney have slumped 34% since January and more than 42% over the past 12 months, as investors wonder whether the company can sustain its streaming growth amid higher inflation. There’s also concern that a looming recession could impact Disney’s other business ventures like its parks and studio businesses.
Disney’s parks, experiences and consumer products division has been strong in recent quarters, as more travelers venture to its domestic theme parks and spend money on merchandise.
Its studio division should see a boost from ticket sales of Marvel’s “Doctor Strange in the Multiverse of Madness” and “Thor: Love and Thunder,” which performed well at the box office.
Opening later this week is “Black Panther: Wakanda Forever,” followed by “Avatar: The Way of Water” in mid-December. Both films are expected to be significant drivers of ticket sales for movie theaters.
This is a breaking news story. Check back for updates.