The Walt Disney Company Reports Q3 Fiscal Year 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
The Walt Disney Company Reports Q3 Fiscal Year 2024 Financial Results
The Walt Disney Company (Disney) has reported its financial results for the third quarter ended on June 29, 2024. Below is a detailed summary of key financial metrics, segment performance, and other pertinent details from the report.
Key Financial Metrics
The key financial metrics for the quarter are summarized in the table below, along with year-over-year (YoY) and quarter-over-quarter (QoQ) comparisons.
| Metric | Q3 FY2024 | Q3 FY2023 | QoQ Change | YoY Change |
|---|---|---|---|---|
| Total Revenue | $23.2 billion | $22.4 billion | +3.57% | +4% |
| Earnings Per Share (EPS) | $1.43 | -$0.25 | +$1.68 | N/A |
| Net Income | $2.6 billion | -$0.5 billion | +$3.1 billion | N/A |
Interpretation : Disney saw a significant increase in net income and EPS compared to the previous year's quarter, reflecting an improvement in operations, particularly in their Entertainment and Direct-to-Consumer segments.
Revenue Breakdown Across Major Segments
The revenue performance across Disney's major segments for Q3 is as follows:
| Segment | Revenue Q3 FY2024 | Revenue Q3 FY2023 | QoQ Change | YoY Change |
|---|---|---|---|---|
| Entertainment | $20.8 billion | $20.0 billion | +4% | +4% |
Interpretation : The Entertainment segment saw revenue growth driven by higher DTC subscription and advertising revenues. Specific details for Sports and Experiences segments are not provided in the data.
Announced Dividends or Share Repurchase Program
The company declared a cash dividend: - On February 7, 2024, the Board of Directors declared a cash dividend of $0.45 per share, which was paid on July 25, 2024, to shareholders of record as of July 8, 2024.
The company also announced a share repurchase program: - Effective February 7, 2024, the Board of Directors authorized a new share repurchase program to repurchase a total of 400 million shares of its common stock. During the quarter, Disney repurchased 14 million shares for $1.5 billion.
Stock Price Movement After Earnings Release
The stock experienced a -2.71% change following the earnings release event.
Conclusion
Disney has demonstrated strong financial performance in Q3 FY2024 with significant improvements in net income and EPS compared to the previous year. Continued growth in the Entertainment segment was a major contributor. However, specific data for the Sports and Experiences segments were unclear from the provided information. Disney's financial health appears strong, supported by active dividend payouts and a robust share repurchase initiative.
For further detailed information, please refer to the official earnings release document.
