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