Company news: Walt Disney (DIS) quarterly earnings top analysts’ estimates

Walt Disney (DIS) reported Q1 FY2024 earnings of $1.22 per share (versus $0.99 per share in Q1 FY2023), beating analysts’ consensus estimate of $0.99 per share.

The company’s quarterly revenues amounted to $23.500 bln (-0.1% y/y), missing analysts’ consensus estimate of $23.709 bln.

The company also issued upside guidance for FY2024, seeing EPS of at least $4.60 versus analysts’ consensus estimate of $4.29.

In addition, Walt Disney increased its cash dividend by 50% to $0.45/share and announced a new share repurchase program, which, in part, targets $3 bln in repurchases in FY2024.

DIS rose to $105.25 (+6.11%) in pre-market trading.