What You Need To Know Ahead of Disney’s Earnings Report On Wednesday [Video]

Walt Disney Co. (DIS) is expected to eke out modest revenue and net income gains year-over-year (YOY) when it reports first-quarter fiscal 2024 earnings results after market close on Feb. 7. The media giant had a relatively lackluster 2023 holiday box office and cable cord-cutting continues to affect its legacy networks.

Disney is forecast to post net income attributable to the company of $1.82 billion, up just a fraction of a percent compared with the prior-year quarter. Earnings per share (EPS) is expected to come in at 84 cents, compared with 70 cents the same time last year. Analysts predict that Disney will report revenue of $23.72 billion, up just under 1% YOY. This would be the slowest pace of growth since the company returned to revenue gains nearly three years ago.

While a general shift away from traditional cable serviceshas weighed on some of Disney’s legacy entertainment offerings, the company has made great strides with its …