News The Walt Disney Company Q2 Earnings Call

[Brian]

The Walt Disney Company will discuss fiscal second quarter 2024 financial results via a live audio webcast beginning at 8:30 a.m. ET / 5:30 a.m. PT on Tuesday, May 7, 2024.

Results will be released before the opening of regular trading on May 7, 2024.

To listen to the webcast, please return here 5 minutes prior to the presentation.

The webcast presentation will be archived.

Disney’s Q2 FY24 Earnings Results Webcast - The Walt Disney Company

Listen here: https://thewaltdisneycompany.com/app/uploads/2024/05/q2-fy24-earnings.mp3 RELATED MATERIALS: Earnings Report Financial Reconciliations Q2 FY24 Earnings Presentation Supplemental Information for Entertainment Direct-to-Consumer Audio Q2 FY24 Earnings Transcript Forward-Looking...

thewaltdisneycompany.com

 

[todd23]

The Walt Disney Company will discuss fiscal second quarter 2024 financial results via a live audio webcast beginning at 8:30 a.m. ET / 5:30 a.m. PT on Tuesday, May 7, 2024.

Results will be released before the opening of regular trading on May 7, 2024.

To listen to the webcast, please return here 5 minutes prior to the presentation.

The webcast presentation will be archived.

Disney’s Q2 FY24 Earnings Results Webcast - The Walt Disney Company

Listen here: https://thewaltdisneycompany.com/app/uploads/2024/05/q2-fy24-earnings.mp3 RELATED MATERIALS: Earnings Report Financial Reconciliations Q2 FY24 Earnings Presentation Supplemental Information for Entertainment Direct-to-Consumer Audio Q2 FY24 Earnings Transcript Forward-Looking...

thewaltdisneycompany.com

That's odd timing, isn't it?

 

[Brian]

That's odd timing, isn't it?

I thought so. I can't recall the last time they did a pre-market earnings announcement.

 

[Disney Irish]

I would think the only reason to release prior to opening these days is if you have something in the earnings that would have a positive impact on the stock. D+ turning profitable this quarter perhaps.....

 

[Sirwalterraleigh]

I would think the only reason to release prior to opening these days is if you have something in the earnings that would have a positive impact on the stock. D+ turning profitable this quarter perhaps.....

$126 bucks gonna matter?

It doesn’t matter when they do a call…every day is before/after the market

 

[Disney Irish]

$126 bucks gonna matter?

It doesn’t matter when they do a call…every day is before/after the market

Except companies don't usually switch timing of release unless there is a reason, especially for a company based primarily on the west coast. So to do it on a Tuesday before US markets open for a west coast company means a positive report in my experience. You do it after US market hours or late on a Friday when its not going to be as positive.

Guess we'll see next month.

 

[todd23]

Except companies don't usually switch timing of release unless there is a reason, especially for a company based primarily on the west coast. So to do it on a Tuesday before US markets open for a west coast company means a positive report in my experience. You do it after US market hours or late on a Friday when its not going to be as positive.

Guess we'll see next month.

I'm disappointed that I'll be on a DCL cruise and will miss it. (I guess I'm not really disappointed, but I wish the timing was different)

 

[Disney Irish]

I'm disappointed that I'll be on a DCL cruise and will miss it. (I guess I'm not really disappointed, but I wish the timing was different)

Doesn't the ship has Wifi you could use to watch?

 

[bmr1591]

T Swift brought in the subs.

 

[Disney Analyst]

Interesting timing indeed.

 

[Nevermore525]

Hulu/D+ had a reported loss of $134M for Q1. Seems fair to guess that the most recent quarter has reached profitability.

 

[GhostHost1000]

 

[HauntedPirate]

If it's not Bob announcing his successor and tendering his resignation effective October 1, 2024, the time change doesn't move the needle for me.

Last quarter's results resulted in a hefty stock bump after-hours that was sustained the next day, so I'm curious to see why they thought they needed to move this one up to the start of the day.

 

[JoeCamel]

Except companies don't usually switch timing of release unless there is a reason, especially for a company based primarily on the west coast. So to do it on a Tuesday before US markets open for a west coast company means a positive report in my experience. You do it after US market hours or late on a Friday when its not going to be as positive.

Guess we'll see next month.

Bob has a mean streak and wanted to make Burbank wake up the same time he does. As a fellow old I know the struggle to sleep in....

 

[todd23]

Doesn't the ship has Wifi you could use to watch?

I'm too cheap to pay for it!

 

[Nubs70]

T Swift brought in the subs.

But does T Swift retain the subs?

 

[BrianLo]

I would think the only reason to release prior to opening these days is if you have something in the earnings that would have a positive impact on the stock. D+ turning profitable this quarter perhaps.....

Seems probable. I'm claiming credit for already laying my stake on that prediction ages ago.

How core subs could go up 5.5-6 million AND ARPU should go up (as the December price hikes take root) without closing the measly gap wasn't jiving. The only question in technicality is how negative is D+ in the general equation. We know Hulu is positive, but I don't know exactly how positive. Technically we could have reached a steady state where the DTC segment is profitable, but D+ specifically underneath isn't. Meaning Hulu was doing all the work.

The timing of the call sort of tells me both D+ AND DTC are profitable... There's really nothing else financial wise that I think is that much worth getting worked up over with a dearth of studio releases.

 

[Kamikaze]

It doesn’t matter when they do a call…every day is before/after the market

You don't move your announcement from after close to before open if you're going to announce bad news.

Same reason why lots of things (not only Disney, but politics, companies, etc) are announced Friday at 4. So the news cycle has moved on.

A 5:00 release lets the numbers settle overnight and not affect the stock as much. Releasing at 8:30 means you expect the stock to pop up for the day on the good news.

 

[Disney Irish]

Seems probable. I'm claiming credit for already laying my stake on that prediction ages ago.

How core subs could go up 5.5-6 million AND ARPU should go up (as the December price hikes take root) without closing the measly gap wasn't jiving. The only question in technicality is how negative is D+ in the general equation. We know Hulu is positive, but I don't know exactly how positive. Technically we could have reached a steady state where the DTC segment is profitable, but D+ specifically underneath isn't. Meaning Hulu was doing all the work.

The timing of the call sort of tells me both D+ AND DTC are profitable... There's really nothing else financial wise that I think is that much worth getting worked up over with a dearth of studio releases.

It seems to me that you, me and @MisterPenguin have been advocating/championing for DTC/D+ profitability in FY24 since the beginning despite all the doubters.

 

[Sirwalterraleigh]

You don't move your announcement from after close to before open if you're going to announce bad news.

Same reason why lots of things (not only Disney, but politics, companies, etc) are announced Friday at 4. So the news cycle has moved on.

A 5:00 release lets the numbers settle overnight and not affect the stock as much. Releasing at 8:30 means you expect the stock to pop up for the day on the good news.

Well at least they can say they haven’t bombed any movies?

It seems to me that you, me and @MisterPenguin have been advocating/championing for DTC/D+ profitability in FY24 since the beginning despite all the doubters.

And will you be championing it when the “profits” are still marginal in 3 years?