Writers take to the picket line on May 3, 2023, on the second day of a strike by writers for television and movies outside Disney Studios in Burbank, California.
Robin Baker | AFP | Getty Images
Writers’ strike, feud in Florida, and ongoing company-wide layoffs — CEO Bob Iger and walt disney company Speech on Wednesday.
As the pandemic era receded, Disney enjoyed a rapid financial recovery across most of its divisions, from theme parks to theatrical entertainment. Meanwhile, its streaming business has slowed, and its traditional media business continues to face headwinds as consumers cut back on cable and ad revenue plummets.
Investors are keen to see if the newly returning Iger can overcome those concerns while paving the way for the future with a new succession plan.
The company announced its second-quarter earnings after the close.
Here’s what analysts expected:
- EPS: Earnings of 93 cents a share were expected, according to a Refinitiv survey of analysts
- income: Expected to be worth $21.79 billion, according to Refinitiv data
- Total Disney+ Subscriptions: According to StreetAccount, 163.17 million visits are expected
Shareholders and industry analysts are looking to Iger to address some ongoing challenges beyond the company’s day-to-day operations.
Disney expanded its federal lawsuit against Florida Gov. Ron DeSantis on Monday, accusing the Republican leader of increasing its scrutiny over the company by signing legislation to cancel Disney’s development deal in Orlando. “Retaliatory action”.
In addition, the company has seen knock-on effects from the ongoing writers’ strike, including production stoppages on Marvel Studios’ “Blade” and Disney+’s Star Wars series “Andor,” which was due to begin filming in Atlanta next month.
There is also a third wave of layoffs within the company, which industry experts expect to announce soon.