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The Zacks Consensus Estimate for earnings has moved down by 3% to 99 cents per share over the past 30 days, indicating a decrease of 9.17% year over year.
The consensus mark for revenues is pegged at $22.44 billion, suggesting growth of 4.34% from the year-ago quarter’s reported figure.
Notably, Disney’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining quarter, the average surprise being 5.98%.
Let’s see how things have shaped up for this announcement.
Factors to Consider
Disney’s third-quarter fiscal 2023 results are expected to reflect declining Disney+ subscriber growth. Disney+, as of Apr 1, 2023, had 157.8 million paid subscribers compared with 161.8 million as of Dec 31, 2022.
Stiff competition from the likes of Amazon prime video and Netflix, as well as the growing prominence of services from Apple, Peacock and HBO Max, is expected to have hurt Disney+’s growth in the to-be-reported quarter.
Our model estimate for the number of paid subscribers of Disney+ is currently pegged at 149.8 million, suggesting an 8.8% year-over-year decline.
Parks, Experiences and Products businesses are expected to have benefited from strong occupancy.
Our model estimate for Parks, Experiences & Consumer Products revenues is currently pegged at $8.06 billion, indicating growth of 13.5% from the figure reported in the year-ago quarter.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Disney has an Earnings ESP of -9.14% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Image: Bigstock
Disney (DIS) to Report Q3 Earnings: What's in the Cards?
The Walt Disney Company (DIS - Free Report) is set to report its third-quarter fiscal 2023 results on Aug 9.
The Zacks Consensus Estimate for earnings has moved down by 3% to 99 cents per share over the past 30 days, indicating a decrease of 9.17% year over year.
The consensus mark for revenues is pegged at $22.44 billion, suggesting growth of 4.34% from the year-ago quarter’s reported figure.
Notably, Disney’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining quarter, the average surprise being 5.98%.
The Walt Disney Company Price and EPS Surprise
The Walt Disney Company price-eps-surprise | The Walt Disney Company Quote
Let’s see how things have shaped up for this announcement.
Factors to Consider
Disney’s third-quarter fiscal 2023 results are expected to reflect declining Disney+ subscriber growth. Disney+, as of Apr 1, 2023, had 157.8 million paid subscribers compared with 161.8 million as of Dec 31, 2022.
Stiff competition from the likes of Amazon prime video and Netflix, as well as the growing prominence of services from Apple, Peacock and HBO Max, is expected to have hurt Disney+’s growth in the to-be-reported quarter.
Our model estimate for the number of paid subscribers of Disney+ is currently pegged at 149.8 million, suggesting an 8.8% year-over-year decline.
Parks, Experiences and Products businesses are expected to have benefited from strong occupancy.
Our model estimate for Parks, Experiences & Consumer Products revenues is currently pegged at $8.06 billion, indicating growth of 13.5% from the figure reported in the year-ago quarter.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Disney has an Earnings ESP of -9.14% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Townsquare (TSQ - Free Report) has an Earnings ESP of +4.17% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Townsquare shares have gained 59.2% year to date. TSQ is set to report its second-quarter 2023 results on Aug 9.
On Holding (ONON - Free Report) has an Earnings ESP of +5.00% and a Zacks Rank #1.
On Holding shares have surged 106.8% year to date. ONON is set to report its second-quarter 2023 results on Aug 15.
SciPlay has an Earnings ESP of +10.53% and a Zacks Rank of 2, at present.
SciPlay shares have gained 22.9% year to date. SCPL is set to report its second-quarter 2023 results on Aug 8.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.