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Disney, PayPal, Wynn Resorts All Outperform on Earnings, Sales
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Once again today, three of the four major indices closed nicely in the green, with the Dow +156 points, +0.40%, while the S&P 500 doubled that performance today, +0.82%. The Nasdaq grew highest of them all today, +147 points or +0.95%, partly based on the continued strength from NVIDIA (NVDA - Free Report) , which closed at yet another all-time high, $700 per share. Only the small-cap Russell 2000 slid into the red today, closing -0.17%.
The Walt Disney Co. (DIS - Free Report) , fresh from its announcement of a sports platform alliance with Fox and Warner Bros. Discovery this morning, posted beats in its fiscal Q1 earnings report after the closing bell this afternoon. Earnings of $1.22 per share easily surpassed the 97 cents expected (and 99 cents per share reported in the year-ago quarter), on revenues of $23.5 billion which modestly outperformed the $23.47 billion in the Zacks consensus. Shares are up +7% in late trading on the news, adding to its +9% gains from the start of the year.
This marks the fifth-straight earnings beat for the global entertainment conglomerate, which happens to match the five quarters since CEO Bob Iger returned to his post in November 2022. Disney+ core subscribers did see some churn, -1.3 million in the quarter, but this was partially covered by the +1.2 million gains in its Hulu network. Disney+ core net adds are expected to be between 5.5-6 million, and the company issued a 45 cent per share cash dividend for good measure. Disney’s full-year earnings guide has been ratcheted up to $4.60 per share from $4.34 in the Zacks consensus.
PayPal (PYPL - Free Report) also reported Q4 earnings after the regular closing day, outpacing estimates on both top and bottom lines. Earnings of $1.48 per share marked a 12-cent beat (and 24 cents higher year over year) on quarterly sales of $8.0 billion, beating the $7.88 billion projected and +9% year over year. But shares are trading down -4% in the late session, as guidance softens compared to some estimates. PayPal now has stiff competition from the likes of ApplePay and Google Pay.
Wynn Resorts (WYNN - Free Report) also outperformed expectations on both top and bottom lines this afternoon, streaking past earnings estimates and posting $1.91 per share, far hotter than the $1.12 projected. Revenues of $1.84 billion improved over the expected $1.74 billion, as Operating Revenue increased +84% year over year. Partly this was due to Macau, China coming fully back online, bringing in +$309 million in the quarter, followed by $111.3 million in Las Vegas. Wynn Palace garnered a strong $411.3 million, and shares are up +3% in late trading.
Tomorrow morning ushers in new Weekly Jobless Claims numbers, both short-term and long-term. The labor market is one we'll be paying closer attention to as the year moves along, with new announced layoffs confronting an otherwise healthy employment situation. Questions or comments about this article and/or author? Click here>>
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Disney, PayPal, Wynn Resorts All Outperform on Earnings, Sales
Once again today, three of the four major indices closed nicely in the green, with the Dow +156 points, +0.40%, while the S&P 500 doubled that performance today, +0.82%. The Nasdaq grew highest of them all today, +147 points or +0.95%, partly based on the continued strength from NVIDIA (NVDA - Free Report) , which closed at yet another all-time high, $700 per share. Only the small-cap Russell 2000 slid into the red today, closing -0.17%.
The Walt Disney Co. (DIS - Free Report) , fresh from its announcement of a sports platform alliance with Fox and Warner Bros. Discovery this morning, posted beats in its fiscal Q1 earnings report after the closing bell this afternoon. Earnings of $1.22 per share easily surpassed the 97 cents expected (and 99 cents per share reported in the year-ago quarter), on revenues of $23.5 billion which modestly outperformed the $23.47 billion in the Zacks consensus. Shares are up +7% in late trading on the news, adding to its +9% gains from the start of the year.
This marks the fifth-straight earnings beat for the global entertainment conglomerate, which happens to match the five quarters since CEO Bob Iger returned to his post in November 2022. Disney+ core subscribers did see some churn, -1.3 million in the quarter, but this was partially covered by the +1.2 million gains in its Hulu network. Disney+ core net adds are expected to be between 5.5-6 million, and the company issued a 45 cent per share cash dividend for good measure. Disney’s full-year earnings guide has been ratcheted up to $4.60 per share from $4.34 in the Zacks consensus.
PayPal (PYPL - Free Report) also reported Q4 earnings after the regular closing day, outpacing estimates on both top and bottom lines. Earnings of $1.48 per share marked a 12-cent beat (and 24 cents higher year over year) on quarterly sales of $8.0 billion, beating the $7.88 billion projected and +9% year over year. But shares are trading down -4% in the late session, as guidance softens compared to some estimates. PayPal now has stiff competition from the likes of ApplePay and Google Pay.
Wynn Resorts (WYNN - Free Report) also outperformed expectations on both top and bottom lines this afternoon, streaking past earnings estimates and posting $1.91 per share, far hotter than the $1.12 projected. Revenues of $1.84 billion improved over the expected $1.74 billion, as Operating Revenue increased +84% year over year. Partly this was due to Macau, China coming fully back online, bringing in +$309 million in the quarter, followed by $111.3 million in Las Vegas. Wynn Palace garnered a strong $411.3 million, and shares are up +3% in late trading.
Tomorrow morning ushers in new Weekly Jobless Claims numbers, both short-term and long-term. The labor market is one we'll be paying closer attention to as the year moves along, with new announced layoffs confronting an otherwise healthy employment situation.
Questions or comments about this article and/or author? Click here>>