Disney has revealed some HUGE updates — but don’t worry about digging around to find them all. We’ve got them right here just for YOU.
On May 10th, Disney held its earnings call (and shared its earnings report) for the second quarter of fiscal year 2023 (Q2 FY 2023). We had some expectations for what news this day would bring and now we’ve got all the updates. Thanks to this report and call, we’ve got updates on just how much money Disney+ is making at the moment, how its subscriber numbers have changed, how much dough the theme parks are raking in, and more. So let’s go through everything you need to know now.
Overall Financial Results
In terms of overall financial results, here’s what Disney has reported for Q2 of FY 2023:
- Revenues for the quarter and six months grew 13% and 10%, respectively
- Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.69 from $0.26 in the prior-year quarter
- Excluding certain items, diluted EPS for the quarter decreased to $0.93 from $1.08 in the prior year quarter
Iger called Disney’s first quarter of 2023 a “solid” quarter. It marked the start of some significant changes for the company. When it comes to the second quarter, CEO Bob Iger shared, “We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success.”
Below, you can see a chart of some key financial results from the second quarter of fiscal year 2023. Compared to the prior year quarter, revenues are up and income from continuing operations increased this quarter. Additionally, total segment operating income was down in comparison to prior year quarter.
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©Disney
Let’s take a look at some specifics.
Disney+ Subscribers
In terms of Disney+ subscribers, during Q1 of FY 2023, Disney+ actually LOST some subscribers. it went from 164.2 million in October of 2022 to 161.8 million in Q1 of FY 2023. So how has Disney+ fared since then? Well, according to the Q2 FY 2023 update, Disney+ saw an overall LOSS in subscribers.
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©Disney
For more Disney news, see our posts below:
- 10 Controversial Things Bob Iger Has Said About Disney’s Alleged ‘Woke Agenda’
- “Ron, You’re Right” — Fired Marvel Exec Says He Sided With DeSantis Over Disney
- CEO Bob Iger Responds to One of Disney’s Biggest Criticisms
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