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Magic Kingdom at Walt Disney World in Orlando, Florida
(Gary Hershorn/Getty Images)

Disney soars on earnings beat and improved full-year outlook

The Mouse House saw big strength in its parks business.

Nia Warfield

It’s the stuff that investor dreams are made of.

Disney shares popped 6% in premarket trading Wednesday after the company reported better-than-expected earnings for its fiscal second quarter thanks to impressive results in its parks business.

Adjusted earnings per share came in at $1.45, well above the $1.20 estimate among analysts polled by Bloomberg. Revenue landed at $23.6 billion, also topping Wall Street’s expected $23 billion.

Meanwhile, Disney’s streaming business notched its third straight quarter of profitability. Disney+ added 1.4 million new subscriptions to a total of 126 million — also above expectations.

Looking ahead, Disney expects full-year earnings per share of $5.75, a 16% jump from last year and ahead of the $5.44 estimate. Previously, the company saw only “high single digit” EPS growth.

Management also upped full-year guidance on cash from operations, primarily due to tax deferrals.

Disney shares were down about 17% year to date prior to this post-earnings pop.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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