Everything You Need To Know Ahead Of Earnings

Global entertainment and media company Disney (NYSE:DIS) will be reporting results this Thursday before the bell. Here’s what to look for.

Disney met analysts’ revenue expectations last quarter, reporting revenues of $23.65 billion, up 2.1% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a miss of analysts’ Experiences revenue estimates.

Is Disney a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Disney’s revenue to be flat year on year at $22.75 billion, slowing from the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.02 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Disney has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Disney’s peers in the media segment, some have already reported their Q3 results, giving us a hint as to what we can expect. fuboTV’s revenues decreased 2.3% year on year, beating analysts’ expectations by 4.9%, and News Corp reported revenues up 2.3%, topping estimates by 2%. fuboTV traded down 3.3% following the results while News Corp was up 6.8%.

Read our full analysis of fuboTV’s results here and News Corp’s results here.

Investors in the media segment have had steady hands going into earnings, with share prices flat over the last month. Disney is up 4.1% during the same time and is heading into earnings with an average analyst price target of $134.22 (compared to the current share price of $114.82).

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