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The Zacks Consensus Estimate for earnings has moved down by 9.3% to 68 cents per share over the past 30 days, indicating a year-over-year increase of 126.67%.
The consensus mark for revenues is pegged at $21.32 billion, suggesting growth of 5.79% 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 once, the average surprise being 3%.
Let’s see how things have shaped up for this announcement.
Disney’s fourth-quarter fiscal 2023 results are expected to reflect declining Disney+ subscriber growth. Disney+, as of Jul 1, 2023, had 146.1 million paid subscribers compared with 157.8 million as of Apr 1, 2023.
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 145.1 million, suggesting an 11.6% year-over-year decline.
Moreover, Disney is expected to have suffered from lower advertising revenues in the to-be-reported quarter. In the nine months ended on Jul 1, 2023, revenues declined 13% from the year-ago period due to fewer impressions primarily attributed to declines at Hulu and Disney+.
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 -0.59% and a Zacks Rank #5 (Strong Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Image: Bigstock
Disney (DIS) to Report Q4 Earnings: What's in the Cards?
The Walt Disney Company (DIS - Free Report) is set to report its fourth-quarter fiscal 2023 results on Nov 8.
The Zacks Consensus Estimate for earnings has moved down by 9.3% to 68 cents per share over the past 30 days, indicating a year-over-year increase of 126.67%.
The consensus mark for revenues is pegged at $21.32 billion, suggesting growth of 5.79% 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 once, the average surprise being 3%.
Let’s see how things have shaped up for this announcement.
The Walt Disney Company Price and EPS Surprise
The Walt Disney Company price-eps-surprise | The Walt Disney Company Quote
Factors to Consider
Disney’s fourth-quarter fiscal 2023 results are expected to reflect declining Disney+ subscriber growth. Disney+, as of Jul 1, 2023, had 146.1 million paid subscribers compared with 157.8 million as of Apr 1, 2023.
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 145.1 million, suggesting an 11.6% year-over-year decline.
Moreover, Disney is expected to have suffered from lower advertising revenues in the to-be-reported quarter. In the nine months ended on Jul 1, 2023, revenues declined 13% from the year-ago period due to fewer impressions primarily attributed to declines at Hulu and Disney+.
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 -0.59% and a Zacks Rank #5 (Strong Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Arcellx (ACLX - Free Report) currently has an Earnings ESP of +19.40% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arcellx is set to announce third-quarter 2023 results on Nov 13. Shares of ACLX have gained 44.1% year to date.
Upstart (UPST - Free Report) has an Earnings ESP of +9.09% and sports a Zacks Rank #1 at present.
Upstart is set to announce third-quarter 2023 results on Nov 7. Shares of UPST have rallied 129.3% year to date.
Clarivate (CLVT - Free Report) currently has an Earnings ESP of +5.56% and a Zacks Rank #3.
Clarivate is set to announce third-quarter 2023 results on Nov 7. Shares of CLVT have declined 17.6% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.