Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.
Disney is set to release its fiscal third-quarter earnings after the markets close on Tuesday.
Here are the numbers analysts are expecting:
- Earnings per share: $1.75 per share, according to Refinitiv estimates
- Revenue: $21.47 billion, per Refinitiv
Disney is expected to show strong growth in its studio business, bolstered by the company’s continued dominance at the box office this year.
Last month, Disney’s “Avengers: Endgame” became the highest-grossing film of all time, raking in $2.79 billion at the global box office and surpassing previous chart-topper “Avatar’s” record of $2.7897. The success of “Endgame,” as well as other titles like “Captain Marvel,” “The Lion King,” “Toy Story 4” and “Aladdin,” could help Disney earn more than $9 billion at the global box office this year.
Analysts will likely be looking for more color on the company’s upcoming Disney+ streaming service, which was announced in 2018 and will launch in November at a cost of $6.99 per month, or $69.99 per year. The service will feature content from Disney, Pixar, Marvel, Star Wars, and more. It will also have programming from Fox, thanks to Disney’s $71 billion purchase of Fox’s entertainment assets.
Disney closed the multi-billion dollar deal in late March and will include results from Fox for the first time in its third quarter results.
The company’s theme park business is also expected to be a bright spot in its results. Earlier this year, Disney said it was raising ticket prices for some of its US theme parks, but that did little to deter guests from spending more and staying longer at its parks during the second quarter.
It comes as Disney in May opened its new Star Wars-themed attraction, Galaxy’s Edge, at Disneyland. Reservations to get into Galaxy’s Edge sold out within two hours and the company expects demand to remain steady throughout the summer. A second Galaxy’s Edge will open in Orlando, Florida, in August.
This story is developing.