© Reuters. FILE PHOTO: Toy figures of people are seen in front of the displayed Disney + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photoexceeded Wall Street's earnings expectations on Wednesday as higher attendance at its Shanghai and Hong Kong theme parks offset a decline in advertising revenue at television network ABC.
For the fiscal fourth quarter ended Sept. 30, Disney reported adjusted per-share earnings of 82 cents, topping an average forecast of 70 cents, according to LSEG data. Quarterly revenue of $21.2 billion was largely in line with consensus estimates. Disney now says it is on track to achieve $7.5 billion in annualized savings, as it aggressively manages costs.
Insider Intelligence analyst Paul Verna said he"would caution against the narrative that Disney is an outlier."
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