Tuesday, 02 January 2024 12:17 GMT

Disney Projects Higher Earnings, Doubles Buyback Target For 2026: Why Is The Stock Falling Today?


(MENAFN- AsiaNet News)
  • Disney announced that it is doubling its share repurchase target to $7 billion for 2026.
  • The company declared a cash dividend of $1.50 per share, payable in two installments.

Walt Disney Co. (DIS) announced on Thursday that the company anticipates double-digit growth in adjusted earnings per share for fiscal 2026, and highlighted that it is doubling its share repurchase target to $7 billion.

Additionally, the company declared a cash dividend of $1.50 per share, payable in two installments of $0.75 per share, on Jan. 15, 2026, and Jul. 22, 2026.

Fourth-Quarter Performance 

Disney posted $22.5 billion in revenue for the quarter, marking flat growth compared with the same period last year, while earnings per share (EPS) nearly tripled year-on-year (YoY) to $0.73. 

While revenue fell short of the analysts' consensus estimate of $22.78 billion, EPS exceeded the estimate of $1.02, according to Fiscal AI data. 

Following the Q3 earnings result, Walt Disney's stock traded over 3% lower in Thursday's premarket. On Stocktwits, retail sentiment around the stock remained in 'extremely bullish' territory. Message volume improved to 'extremely high' from 'high' levels in 24 hours. 

Get updates to this developing story directly on Stocktwits.

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AsiaNet News

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