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1、February7,2024THEWALTDISNEYCOMPANYREPORTSFIRSTQUARTEREARNINGSFORFISCAL2024BURBANK,Calif.TheWaltDisneyCompanytodayreportedearningsforitsfirstquarterendedDecember30,2023.FinancialResultsfortheQuarter:Revenuesforthequarterwerecomparabletotheprior-yearquarterat$23.5billion.Dilutedearningspershare(EPS)fo
2、rthequarterincreasedto$1.04from$0.70intheprior-yearquarter.Excludingcertainitems(1),dilutedEPSforthequarterincreasedto$1.22from$0.99intheprior-yearquarter.KeyPoints:Ourfirstquarterearningsresultsreflecttheprogresswevemadeinourstrategictransformation,aswecontinuetobuildfromapositionofstrength.Weareac
3、hievingsignificantcostreductionsacrossourbusinesses,asevidencedbytherealizationofover$500millioninselling,generalandadministrativeandotheroperatingexpensesavingsacrosstheenterpriseinthefirstquarter.Weareontracktomeetorexceedour$7.5billionannualizedsavingstargetbytheendoffiscal2024,whilewecontinuetol
4、ookforfurtherefficiencyopportunities.Basedonthestrengthoffirstquarterresultsaswellasourexpectationsforthebalanceoftheyear,weexpectfullyearfiscal2024earningspershareexcludingcertainitems(1)toincreasebyatleast20%versus2023,toapproximately$4.60.Further,wecontinuetoexpectfreecashflow(1)generationinfisca
5、l2024tototalroughly$8billion.Wecontinuetoexpecttoreachprofitabilityatourcombinedstreamingbusinessesinthefourthquarteroffiscal2024,andaremakingtremendousprogressinthisarea,withfirstquarterEntertainmentDTCoperatinglossesimprovingbynearly$300millionversusthepriorquarter.Webelievethisbusinesswillultimat
6、elybeakeyearningsgrowthdriverfortheCompany.Hulusubscribersincreasedby1.2millionfromthepriorquarter.Disney+Coresubscribersdecreasedsequentiallyby1.3million,inlinewithpriorguidanceandreflectingasubstantialpriceincreaseinthequarteraswellastheendoftheglobalsummerpromotion.Disney+CoreARPUincreasedsequent