Deadpool & Wolverine helps push Disney past Wall Street estimates: Wellpositioned for growth
Walt Disney reported earnings that topped Wall Street’s estimates on Thursday, propelled by blockbuster ticket sales from the rude and irreverent summer Marvel film “Deadpool & Wolverine,” and provided an upbeat forecast for the coming year.The company projected adjusted earnings-per-share percentage growth in the high single digits in fiscal 2025, even with capital expenditures of roughly $8 billion.It also said it expects to buy back $3 billion worth of stock.Disney’s stock jumped 10.2% to $113.17, its highest share price in six months.The entertainment giant’s recent success at movie theaters helped offset a decline in operating income at the company’s Experiences and Sports divisions.
Lower attendance at international locations dragged on theme parks results, and higher programming and production costs hurt ESPN.Disney reported adjusted per-share earnings of $1.14 for its fiscal fourth quarter that ended in September.That compares with consensus estimates of $1.10 per share, according to analysts polled by LSEG.Revenue reached $22.6 billion, slightly ahead of Wall Street forecasts of $22.45 billion.
Operating income rose 23% from a year earlier to nearly $3.7 billion.Chief Executive Bob Iger, who returned to the company from retirement in November 2022, undertook aggressive cost-cutting and worked to revitalize the company’s film and TV units after a period of misfires.“We’ve emerged from a period of considerable challenges and disruption,” Iger told investors.“We’re well positioned for growth.”Disney last month said it would name a new chief in early 2026.
The new boss would replace Iger, who returned to the company to take the top job after the board fired his handpicked CEO.As peers like Warner Bros Discovery, CEO David Zaslav predicted the incoming Trump Administration would usher in a wave of media consolidation, Iger said Disney doesn’t need to do more deals to bolster its entertainment portfolio.Its 2019 acqu...