Wednesday's results mark the first time the media giant will be delivering earnings under its new reporting structure after CEO Bob Igerinto three core business segments: Disney Entertainment, which includes its entire media and streaming portfolio; Experiences, which encompasses the parks business; and Sports, which will include ESPN networks and ESPN+.
"ESPN is a growing business, with positive revenue growth versus the traditional linear business," Macquarie analyst Tim Nollen added in a note to clients ahead of the report. "Affiliate revenue from sports is declining at a modest pace versus linear, which could be offset by growth in subscription fees from ESPN+ and higher advertising revenues."
CEO of The Walt Disney Company Bob Iger arrives for the screening of the film"Indiana Jones and the Dial of Destiny" during the 76th edition of the Cannes Film Festival in Cannes, southern France, on May 18, 2023. as inflation threatens margins. Macquarie's Nollen said the segment will likely slow in the quarter, although operating profit is still expected to grow by double digits.
'The stupidest investment I ever saw': Charlie Munger trashes 2 popular investment trends — here's what Warren Buffett's business partner prefers insteadAs Canada's economy enters a period of sluggish growth, the big banks are looking to fortify their balance sheets against rising bad debts, but instead of tapping shareholders for funds, the lenders are expected to sell non-core assets and cap dividends, fund managers and analysts said.
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