It’s time for Disney’s first-quarter earnings call!
Throughout the year, Disney shares earnings calls, which update investors, shareholders, and the public on the current state of Disney’s finances. Essentially, we’re getting an update on how Disney is doing with their money and what they’ll be investing in next, which makes it a great opportunity to learn about new Disney projects!
This earnings call was hosted by Disney CEO Bob Chapek and CFO Christine McCarthy, and it’s taking place today (February 9th) at 4:30PM ET. Here’s what we found out!
Q1 Earnings Report
Before the call starts, Disney typically releases the quarter’s earnings report online. The reports give us a detailed look into Disney’s finances and we got some big news this time!
To start, the Walt Disney Company had total revenue of $21.819 billion in Q1 of 2022. This is up more than $5 billion from the same time period in 2021, so it seems that Disney is continuing to recover and improve from pandemic losses. In fact, this profit makes the most recent quarter the second-best quarter of ALL TIME for the Walt Disney Company.
When you break down that revenue into departments, $14.5 billion came from Disney Media and Entertainment Distribution, while $7.2 billion came from Disney Parks, Experiences, and Products.
However, some of that revenue has to go to operating costs. Once those are taken out, we get the income breakdown for the quarter. Disney Media and Entertainment Distribution made $808 million in income for Q1, which is a significant drop from Q1 in 2021, when they made $1.4 billion. However, the Disney Parks, Experiences, and Products has improved significantly over the last year. At this time in 2021, that department lost $119 million in Q1, but in Q1 of 2022, they made $2.4 billion.
We also got a look at the new subscriber numbers for Disney+! The streaming service is up to 129.9 million subscribers, which is a 37% increase from the same time period last year.
That’s everything we’ve found out so far from the first-quarter earnings call, and we’ll keep you updated with any more Disney news you need to know, so stay tuned to AllEars for more!
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Were you surprised by this quarter’s stats? Let us know in the comments!
Is anyone really surprised they turned such a profit? Let’s be realistic. They have increased prices on everything, some way too much. They now make you pay for Genie+. They took away the Magical Express. There are no true discounts. All events from last year were at least 50% more for less of an experience. I’ll be more impressed to see if they turn a profit next year at the same time. Also, of course subscribers were up this go round. Hulu Live subscriptions now charge you 69.99 a month which includes Disney +. It used to be you had the option of whether you wanted Disney + or just Hulu Live. No choice now. So those who did not have a Disney + subscription, only Hulu Live, now pay more and were forced to get Disney +. Once again, I’ll be more impressed if they can top it next year when they come up against all of these inflated figures which were nothing more than price increase, after price increase, after price increase. Easy to turn a profit when you are pulling that kind of stunt. My opinion, but not surprised.
SPOT ON !
AMEN!! They monopolized on Covid shutdowns and are taking advantage of the masses yearning to get out and go, but like you speculate, I question they can sustain this manipulation of the customer long term. To have the 2nd best quarter while you are allegedly limiting capacity proves just how badly they are treating the customer. I feel sorry for those visiting WDW this year. They are paying more than ever and getting less than ever.