Proactive Investors - The Walt Disney Company (NYSE:DIS) analysts will be looking for year-over-year increases in both revenue and earnings per share (EPS) when the entertainment giant reports its fourth quarter and full year 2023 financial results after the close on November 8.
The analyst consensus forecast is for 4Q EPS to surge 133% year over year to $0.70 per share on a 6% anticipated rise in revenue to $21.33 billion, according to Zacks Investment Research.
During 3Q, Disney posted better-than-expected EPS but missed slightly on revenue.
Notably, the company revealed that its Disney+ subscriber numbers for the three months ending July 1, declined 7.4% from the previous quarter to 146.1 million, a larger loss than Wall Street anticipated.
At the time, Disney said it would raise the price on its ad-free streaming tier in October and that it would crack down on password sharing just as streaming rival Netflix (NASDAQ:NFLX) did.
Its parks, experiences and products division, however, saw a 13% increase in revenue to $8.3 billion in 3Q.
Over the last four quarters, Disney surpassed consensus EPS estimates three times while topping the consensus revenue forecast just once.
Ahead of its earnings release, analysts at Bank of America (NYSE:BAC) are maintaining a Buy rating and $110 price objective.
"We believe Disney has a collection of best-in-class assets (in content/IP/Theme Parks)," analysts wrote.
Near term catalysts include, additional updates on the strategic outlook and continued robust theme park demand, they added.
--Updates with analyst comment--