The Walt Disney Company’s stock prices have hit record lows over the past few months, thought to be a result of controversy with Florida Governor Ron DeSantis following his “Don’t Say Gay” law.
Though some have suggested Disney is experiencing financial turmoil, The Motley Fool recently recommended hopeful investors purchase Disney Stock. “Disney is quickly rebounding from its pandemic-induced downturn,” The Motley Fool wrote.
Amid the economic uncertainty, The Walt Disney Company has announced it will host its Q3 FY22 Earnings Results Webcast on August 10, 2022, at 4:30 p.m. Eastern Time.
The Quarter Three Earnings Call will take place on Disney’s Investor Relations website and be saved for investors and other interested parties who can’t make it.
At the Quarter Two Earnings Call on May 11, Disney Parks and Resorts reported a $3.5 billion increase in Q2 revenue since last year. A segment from the Q2 Earnings report, which was released after the call, reads:
Disney Parks, Experiences and Products revenues for the quarter increased to $6.7 billion compared to $3.2 billion in the prior-year quarter. Segment operating results increased by $2.2 billion to income of $1.8 billion compared to a loss of $0.4 billion in the prior-year quarter. Higher operating results for the quarter reflected increases at our domestic parks and experiences businesses and, to a lesser extent, at our international parks and resorts and merchandise licensing businesses.
Additionally, Disney revealed that Guest spending at the Disney Parks is up by 40%. The Walt Disney Company CEO Bob Chapek also detailed plans to increase Disney+ prices and move to an ad-tier service model.
Soon after the call, Disney insiders suggested that multiple replacements were in the works for Chapek. However, The Walt Disney Company recently renewed Chapek’s contract for another three years and offered the controversial CEO a bonus of around $20 million.
Q2 ended April 2, soon after LGBTQIA+ Cast Members and Disney fans demanded the company and Chapek speak out against DeSantis. It’s thought that any financial impact from the controversy will appear in the Q3 earnings call.
During last year’s Q3 earnings call, CEO Bob Chapek promised that the new and controversial Disney Genie app would encourage Guests to spend more money at the Disney Parks. In August, Disney Parks fans may learn more about how Genie+ and Lightning Lane services benefitted The Walt Disney Company.
What would you like to see addressed in The Walt Disney Company’s Q3 Earnings Call? Let us know in the comments.