Josh D’Amaro, chairman of Disney Experiences, speaks during the grand opening ceremony of Shanghai Disney Resort’s Zootopia-themed land on December 19, 2023 in Shanghai, China.<\/p>\n
Vcg | Visual China Group | Getty Images<\/p>\n
Disney<\/a> will release its fiscal second-quarter results before the bell Wednesday. It will mark the first earnings call led by Josh D’Amaro since the former parks executive took over as CEO<\/a> in March. <\/p>\n Under the new CEO, who replaced Bob Iger after his two turns at the helm totaling roughly 20 years, Disney has already been through a round of layoffs<\/a> and has faced mounting political pressure<\/a> surrounding its late night TV host Jimmy Kimmel. <\/p>\n “This earnings call marks Disney’s first real\u00a0gut\u2011check\u00a0under\u00a0D’Amaro’s\u00a0leadership, and a test of how his\u00a0theme\u2011parks\u00a0roots translate, or\u00a0don’t, into the rest of the business,” said Mike Proulx, research director at Forrester. “Streaming is still the main event, but the market is\u00a0consolidating. A potential combination of Paramount+ and HBO Max would reset the competitive calculus for Disney+.”<\/p>\n Streaming and TV results have gobbled up much of the focus<\/a> for media investors across the board as the industry faces significant upheaval and consolidation. <\/p>\n Here’s how Disney is expected to perform\u00a0in its\u00a0fiscal second quarter<\/a>,<\/a> according to LSEG:\u00a0<\/p>\n Last quarter Disney stopped reporting some details for the entertainment segment \u2014 which is comprised of its traditional TV, streaming and theatrical releases \u2014 including the breakdown of revenue and operating income for each segment. The company has also stopped reporting quarterly streaming subscriber numbers. <\/p>\n The consumer shift from pay TV bundles to streaming has weighed on media companies for years, with both distribution and advertising profits continuously decreasing. Still, traditional TV remains a cash cow, and investors have been keen to see how and when streaming can make up for the declines.<\/a> <\/p>\n Updates on the state of Disney’s theme parks, which are part of its experiences unit and the profit driver of the company, will also be of particular interest on Wednesday. <\/p>\n In February, Disney provided second-quarter guidance that called for “modest” growth in operating income for the experiences division due to international visitation headwinds at domestic parks. That forecast was issued before the U.S. and Israel launched attacks on Iran roughly two months ago, causing a surge<\/a> in oil prices. <\/p>\n This story is developing. Please check back for updates. <\/p>\n\n