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Writers march in a picket line on the second day of the film and television writers’ strike outside Disney Studios in Burbank, California on May 3, 2023.
Robin Beck | AFP | Getty Images
A writers’ strike, a feud in Florida, ongoing company-wide layoffs — there’s so much more to CEO Bob Iger’s quarterly earnings than The Walt Disney Company to address on Wednesday.
As the pandemic era faded, Disney has made a rapid financial recovery within most of its divisions, from theme parks to theatrical entertainment. Meanwhile, the streaming business has slowed and continues to face headwinds in its traditional media business as consumers cut back on cable and advertising precipitously.
Investors are keen to see if newly returned Iger can overcome those concerns while paving the way for the future with a new succession plan.
The company reports fiscal second-quarter earnings after the bell.
Here’s what analysts expect:
- Earnings per share: It’s expected to be 93 cents per share, according to a Refinitiv survey of analysts.
- he won: $21.79 billion expected, according to Refinitiv
- Total Disney+ subscriptions: 163.17 million is expected, according to StreetAccount
Besides the day-to-day operations at the company, shareholders and industry analysts expect Iger to deal with a number of ongoing challenges.
On Monday, Disney expanded its federal lawsuit against Florida Gov. Ron DeSantis, accusing the Republican leader of doubling down on his “campaign of retaliation” against the company by signing legislation to void Disney’s development deals in Orlando.
Plus, the company is already seeing ripple effects from the ongoing writers’ strike, including closing production on Marvel Studios’ “Blade,” which was set to begin shooting in Atlanta next month, as well as Disney+ Star Wars series “Andor.”
There is also an expected third wave of layoffs within the company, which industry experts expect to announce soon.
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