- Disney (NYSE:DIS) has erased postmarket losses and headed sharply to positive ground (now up 2.7%) during its just-finished earnings call, during which CEO Bob Iger weighed in on ESPN and the parks business, among other subjects.
- The company had dipped as much as 4.5% in late trading after a miss in fiscal Q4 earnings.
- As UBS alluded to earlier, 2017 will be a challenge with real strength waiting for 2018. The company expects "modest" EPS growth for the year, CFO Christine McCarthy says, with programming costs rising 8% in Cable Networks driven by the first year of the new NBA contract (making up $600M of that increase). Parks and Resorts will benefit from a new Avatar land as well as a full year of results from Shanghai.
- ESPN saw declines on both the ad and affiliate side, but Iger sees "new opportunities, and new deals, to improve the rate structure even more." As for subscriber losses, he reiterated his previous belief that "the causes of those losses have abated, notably the migration to smaller packages ... but new entrants [digital MVPDs] will offer ESPN opportunities ... to reach more people." More millennials will stay in the multichannel ecosystem, or get in when they hadn't before, he said.
- "There's a lot of premature speculation" about the drop in football ratings, in "a season where postseason baseball was very strong, the election had some impact, certainly the debates did. ... It's far too early to say we're concerned."
- Iger mostly declined comment on the election, but said the company has urged government to take a look at the corporate tax rate. "We're no longer competitive with the rest of the world in that regard," he says. "If this week means that [reform] happens sooner rather than later ... that's obviously a good thing."
- Worry not: "We've already prepared a bust of president-elect Trump to go into our Hall of Presidents at DisneyWorld," Iger says.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Polski
- Português (Portugal)
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Disney call: Challenging year ahead, 'opportunities' at ESPN, shares +2.7%
Published 11/10/2016, 06:06 PM
Disney call: Challenging year ahead, 'opportunities' at ESPN, shares +2.7%
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.