Disney shares went up more than 7% after sharing good news about their earnings and a new partnership with Epic Games, a gaming company. This is important because Disney wants to show investors that their plans are working well.
Before a big vote from shareholders, Disney shared its latest results. Some investors, like Trian Partners, are not happy with Disney’s plans and want to change things. Disney’s CEO, Bob Iger, doesn’t want distractions from these investors and thinks they don’t understand Disney’s goals.
Now, Disney predicts they will make $4.60 per share in the fiscal year 2024, which is 20% more than last year. They also plan to save money by cutting costs, and they are on track to reach $7.5 billion in savings. The new partnership with Epic Games includes a $1.5 billion investment, and they will work together to create new ideas.
Disney is working hard to show investors that they are smart with money and can make more profits. They are also focusing on making their streaming services, like Disney+, successful. Disney expects these services to make a profit by the end of this year.
To stay ahead in the changing world, Disney is making new plans. They recently joined with other companies to create a streaming service for sports. They also bought the rest of Hulu last year.
As for the future, Disney is looking for a new leader after CEO Bob Iger. He says finding the right person is a top priority for the company. Investors are waiting to hear more about Disney’s plans for the future.