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The Walt Disney Company (DIS-1.64%) has submitted its 10-K filing for the fiscal year ended September 28, 2024.
The filing details the company's operations in three segments: Entertainment, Sports, and Experiences. Entertainment includes linear networks, direct-to-consumer services, and content sales/licensing. Sports encompasses ESPN-branded channels and direct-to-consumer services like ESPN+. Experiences involve theme parks, resorts, and consumer products.
Disney reported total revenues of $91.4 billion for the fiscal year, a 3% increase from the previous year. This was driven by growth in subscription revenues and higher attendance at theme parks.
Operating income for the Entertainment segment increased significantly to $3.9 billion, attributed to improved results in direct-to-consumer services and content sales/licensing.
The Sports segment reported operating income of $2.4 billion, slightly down from the previous year, due to higher programming costs.
The Experiences segment saw operating income rise to $9.3 billion, reflecting higher attendance and guest spending at theme parks.
Disney's net income attributable to the company was $5.0 billion, more than doubling from the previous year, with diluted earnings per share increasing to $2.72.
The filing also reports on various strategic initiatives, including the planned formation of a joint venture with Reliance Industries Limited to combine Disney's Star India operations with certain media businesses of RIL.
Disney's capital expenditures totaled $5.4 billion, primarily for theme park expansions and new attractions.
The company continues to focus on its direct-to-consumer strategy, with Disney+, ESPN+, and Hulu playing central roles in its growth plans.
Disney's management discussed risks related to economic conditions, competition, and regulatory changes that could impact future performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Walt Disney Company (The) annual 10-K report dated November 14, 2024. To report an error, please email earnings@qz.com.