- Reuters
Disney posts surprise profit in streaming, raises earnings forecast
Walt Disney's streaming entertainment unit posted its first profit on Tuesday, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts were yielding results. Disney now expects adjusted earnings per share to rise by 25% this fiscal year, the company said, up from the 20% it previously forecast. The direct-to-consumer entertainment division - which includes the Disney+ and Hulu streaming services - reported operating income of $47 million from January through March.
- Yahoo Finance
Disney says key part of streaming business was profitable for the first time
Disney will report its fiscal second quarter earnings before the bell on Tuesday. Here's what to expect.
- Reuters
S&P 500, Dow futures inch higher ahead of Walt Disney results
The report and better-than-expected earnings reports helped soothe jittery investors, who sent markets lower in April, on concerns that sticky inflation and a robust economy would prompt the Fed to keep rates higher for longer. Traders currently anticipate rate cuts of 45 basis points (bps) from the Fed by the end of 2024, according to LSEG's interest rate probabilities app, with the first pivot to a 25 bps rate cut priced in for September and another in December.
