3 days ago
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By Lisa Richwine and Dawn Chmielewski
LOS ANGELES (Reuters) -Walt Disney said connected Thursday it would boost its dividend by 50% and treble its stock buyback program for fiscal 2026, arsenic the media giant's streaming and parks businesses powered a quarterly net beat.
Disney posted an adjusted net per stock of $1.11 for its 4th quarter ending successful September, a 3% diminution from a twelvemonth earlier but 6 cents supra an mean LSEG estimate.
Profit roseate successful Disney's taxable parks unit, partially from an enlargement of the U.S. cruise vessel concern and maturation astatine Disneyland Paris.
Earnings astatine its streaming concern surged 39% to $352 million. Disney said it added 12.5 cardinal subscribers to Disney+ and Hulu during the quarter, reaching a full of 196 million.
Still, shares of the institution fell astir 3% successful premarket trading arsenic wide gross missed estimates, weighed down by the continued descent successful the cable TV business.
A caller organisation woody with cablegram and broadband supplier Charter Communications helped gully caller streaming customers, Chief Financial Officer Hugh Johnston told Reuters.
Box bureau smash "Lilo & Stitch" debuted connected Disney+ during the 4th and racked up 14.3 million views successful its archetypal 5 days, helium said.
Disney has been remaking itself to set to the industry-wide diminution of accepted broadcast and cablegram TV. It has invested successful caller taxable parkland attractions and cruise ships and worked to lure subscribers to its streaming services.
CEO Bob Iger undertook assertive cost-cutting when helium returned to Disney successful 2022. His existent declaration expires astatine the extremity of 2026, and Disney has said it will sanction Iger's successor aboriginal adjacent year.
TRADITIONAL TV DECLINE
Thursday's net study reflected a continued descent successful tv fees and advertizing revenue, but the institution projected assurance successful the adjacent 2 years.
Disney forecast double-digit adjusted EPS maturation for fiscal 2026, successful enactment with its erstwhile forecast. The institution besides said it expected double-digit adjusted EPS maturation for fiscal 2027.
The company's committee declared a dividend of $1.50 per share, up from $1 a share, and doubled its banal buyback to $7 cardinal successful fiscal 2026.
In the just-ended quarter, Disney's gross was comparable to a twelvemonth agone astatine $22.5 cardinal but shy of the $22.75 cardinal expert forecast.
Operating income astatine the entertainment part slumped by much than a 3rd to $691 cardinal aft this year's films failed to lucifer the occurrence of past year's hits "Inside Out 2" and "Deadpool & Wolverine."
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