The company said revenue for the quarter ended June 29, 2024 increased 4%, or $0.8 billion, to $23.2 billion, and that net income attributable to Disney turned to income of $2.6 billion (diluted EPS of $1.43) from a loss of $0.5 billion (EPS loss of $0.25) in the prior-year quarter.

10-QQuarterly reportFiled Aug 7, 2024Period of report Jun 29, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said revenue for the quarter ended June 29, 2024 increased 4%, or $0.8 billion, to $23.2 billion, and that net income attributable to Disney turned to income of $2.6 billion (diluted EPS of $1.43) from a loss of $0.5 billion (EPS loss of $0.25) in the prior-year quarter.
The company attributed the EPS increase to the comparison with the Content Impairment in the prior-year quarter and higher operating income at Entertainment in the current quarter. It also recognized a tax benefit of $418 million related to prior years' tax matters (Income Tax Reserve Adjustments) in the current quarter.
The company said revenue for the 9-month period ended June 29, 2024 increased $1.1 billion to $68.8 billion, and net income attributable to Disney increased $2.4 billion to $4.5 billion (EPS of $2.46, compared with $1.14 in the prior-year period). In the same period, it recorded goodwill impairment charges of $2,052 million related to the Star India Transaction and entertainment linear networks.
The company said subscription fee revenue growth in Direct-to-Consumer for the quarter ended June 29, 2024 reflected price increases of 10% from higher retail pricing at Disney+ Core and Hulu, and growth of 7% from more subscribers. It said an unfavorable foreign exchange impact of 3% was a factor that decreased revenue.

Key figures

Quarter ended June 29, 2024

Revenue: $23.2B
Operating income: $4.2B
Net income: $2.6B
EPS: $1.43

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Revenue and Net Income Swing to Profit

The company said revenue for the quarter ended June 29, 2024 increased 4%, or $0.8 billion, to $23.2 billion, and that net income attributable to Disney turned to income of $2.6 billion (diluted EPS of $1.43) from a loss of $0.5 billion (EPS loss of $0.25) in the prior-year quarter.

Source · Based on the MD&A text of the filing

Prior-Year Quarter Comparison and Tax Items

The company attributed the EPS increase to the comparison with the Content Impairment in the prior-year quarter and higher operating income at Entertainment in the current quarter. It also recognized a tax benefit of $418 million related to prior years' tax matters (Income Tax Reserve Adjustments) in the current quarter.

Source · Based on the MD&A text of the filing

9-Month Results and Goodwill Impairments

The company said revenue for the 9-month period ended June 29, 2024 increased $1.1 billion to $68.8 billion, and net income attributable to Disney increased $2.4 billion to $4.5 billion (EPS of $2.46, compared with $1.14 in the prior-year period). In the same period, it recorded goodwill impairment charges of $2,052 million related to the Star India Transaction and entertainment linear networks.

Source · Based on the MD&A text of the filing

Direct-to-Consumer Subscription Fee Revenue Drivers

The company said subscription fee revenue growth in Direct-to-Consumer for the quarter ended June 29, 2024 reflected price increases of 10% from higher retail pricing at Disney+ Core and Hulu, and growth of 7% from more subscribers. It said an unfavorable foreign exchange impact of 3% was a factor that decreased revenue.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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