Dow Jones Today: Stock Futures Tick Lower After US Government Shutdown Ends; Dow Slips Following Record Close

Disney Tops Profit Estimates But Revenue Falls Short as Linear TV Struggles Continue

8 minutes ago

The Walt Disney Co. (DIS) on Thursday reported better profit for the final quarter of its fiscal year than analysts had forecast, but revenue fell short and shares slipped in premarket trading.

Disney reported fourth-quarter revenue of $22.46 billion, down slightly year-over-year and below the Visible Alpha consensus of $22.75 billion. Adjusted earnings of $1.11 per share fell 3% but topped analysts’ estimates.

Direct-to-consumer segment revenue, which includes Disney’s streaming services like Hulu, ESPN, and Disney+, grew 8% to $6.25 billion but was below expectation. Disney said it had 132 million Disney+ subscribers at quarter end and 196 million combined Disney+ and Hulu subscribers, both better than expected.

Things were gloomier in Disney’s linear TV business, where domestic networks revenue and operating income dropped 16% and 21%, respectively, as the yearslong trend of falling viewership of traditional TV continues. Disney said the operating income decline was “due to lower advertising driven by decreases in viewership and political advertising.”

Read the full article here.

–Aaron McDade

Stock Futures Tick Lower After US Government Shutdown Ends

1 hour ago

Futures contracts tied to the Dow Jones Industrial Average ticked 0.1% lower.

S&P 500 futures were down 0.2%.

Nasdaq 100 contracts declined 0.3%.