The Walt Disney Company today reported some very disenchanting numbers in its second quarter 2024 financial results on May 7th, compared with the previous quarter and also the previous year. 
Pixabay Where the business did see profits, they were grown heavily by the company’s theme parks and other ‘Experiences’ businesses, in the face of dwindling numbers from Disney’s streaming and Entertainment segments. The financial results Among other results, the company reported $657 million in income (before income taxes), a decrease of 69% year-on-year (YOY).Revenues for the quarter stood at $22 billion, a decrease year-on-year from the previous Q2, but a quarterly 1%.In some welcome good news, total segment operating income figures for the quarter stood at $3.8 billion, an increase of 17% YoY.Meanwhile, Disney’s (DIS) free cash flow for Q2 also increased by 21%, from $1.98 billion in 2023 to $2.4 billion YoY. An EPS nosediveThe earnings per share for Q2 were a paltry $0.01, compared with the previous quarter’s $1,04 per share for Q1, a significant decrease.According to Disney, this disappointing EPS, a loss of $0.01 for the current quarter compared to income of $0.69 in the prior-year quarter, decreased due to “a nominal loss due to goodwill impairments in the quarter, partially offset by higher operating income at Entertainment and Experiences. Previous resultsDisney’s Q1 2024 earnings showed largely positive results, including:
Compared to these Q1 2024 earnings, Disney has had a less-than-enchanting set of results today.cMore By This Author:Coinbase And Block Inc.stock Prices Are Up, But Is The Crypto Party Over?
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