Bob Chapek, CEO of the Walt Disney Company and former head of Walt Disney Parks and Experiences, speaks during a media preview of the D23 Expo 2019 in Anaheim, California, Aug. 22, 2019.
Patrick T. Fallon | Bloomberg via Getty Images
Disney reported earnings for its fiscal first quarter after the bell.
The stock popped more than 8% in extended trading on the news.
Here are the results.
- Earnings per share: $1.06 adj. vs 63 cents expected, according to a Refinitiv survey of analysts
- Revenue: $21.82 billion vs $20.91 billion expected, according to Refinitiv
- Disney+ total subscriptions: 129.8 million vs 125.75 million expected, according to StreetAccount
Disney+ subscriptions beat estimates, even as executives previously said they expect subscriber growth for Disney+ to be stronger in the second half of the year compared to the first, with original content being released on the platform in Q4 2022. The subscriber number includes nearly 12 million Disney+ subscriptions added in the first quarter.
Disney’s parks, experiences and consumer products division saw revenues reach $7.2 billion during the quarter, double the $3.6 billion it generated in the prior-year quarter. The segment saw operating results jump to $2.5 billion compared to a loss of $100 million in the same period last year.
Disney said the growth in revenue came as more guests attended its theme parks, stayed in its branded hotels and booked cruises.
This story is developing. Check back for updates.
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