Disney reports its much-anticipated results on Wednesday, 08-Nov-2023. This could be a very difficult result to explain for its top management as it faces questions about losses at Disney+ . Disney+ has been engaged in efforts to cut billions in costs. The company is also fighting hard to stamp out streaming-account sharing. There has also been some speculation over which of its large media properties it might sell.

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22 analysts predict the Earnings Per Share (EPS) to be in the range of 0.58 to 0.82. The previous quarter's estimates had missed its mark and Disney had reported lower earnings than estimated.

The past year or two have seen Disney embroiled in a battle with conservative parents in Florida who believe Disney is spreading views contrary to what they would like to impart to their children. Separately, Florida Governor Ron DeSantis has been embroiled in a bitter tussle with Walt Disney Co (DIS.N) that began last year when the media company criticized a state bill on sexual identity. Last year, then-Disney CEO Bob Chapek criticized a legislative effort led by DeSantis in Florida to limit classroom discussion of sexuality and gender issues for younger students.

In an effort to maintain its dominant position in the streaming space, Disney said it will acquire a 33% stake in Hulu from Comcast for at least $8.6 billion. This deal will give Disney full control over Hulu.

Disney is also trying to fight off the overtures of the activist investor Nelson Peltz who has been trying to get seats on Disney's board. Peltz is being supported by a stock infusion from former Marvel exec Ike Perlmutter in his efforts. Peltz has been calling for multiple changes in Disney's management ranging from corporate governance to capital allocation.

Disney was also hit by the recent strike by Hollywood writers that shut production. Its actors are still on strike. There are multiple challenges being posed by AI and views are divided as to how far it will go to disrupt the media and entertainment industry.

Last month, Netflix Inc. stock jumped after it reported big subscriber gains and hiked prices. Last week, results from Paramount Global beat expectations, sending shares of the streaming and entertainment giant on its best percentage gain in nearly a year, and Roku Inc. also offered an upbeat outlook. However, these are perilous times for the streaming industry and we will have to wait a couple of more days to see how Disney fares.