Disney, Uber, Corporate Earnings, S&P 500, Nasdaq - Talking Points
- Disney Q1’22 earnings per share and revenue beat analysts’ expectations
- Uber beats on revenue at $5.78 billion; Q1 gross bookings outlook disappoints
- The upbeat after-hours action may extend into tomorrow, which could help lift US indexes
Disney First-Quarter Earnings
Disney, the theme park and streaming giant, reported corporate earnings results for the first quarter after the closing bell, showing better-than-expected results across revenue and earnings metrics, sending share prices higher in after-hours trading. Revenue increased to $21.82 billion from $16.24 billion in the same quarter last year and beat the $20.84 billion Bloomberg consensus estimate. Earnings per share (EPS) came across at $1.06 versus an expected $0.57 on an adjusted basis.
Disney+ streaming subscribers grew to 129.8 million in Q1, adding to solid growth in prior quarters and beating estimates. Disney’s hit shows, including The Book of Boba Fett, likely helped boost strength in the segment, along with Disney+ being added to the Hulu live bundle. Theme park traffic increased, resulting in the segment’s revenue (including experiences and products) increasing to $7.2 billion. Disney rose by more than 10% higher in after-hours trading.
Disney – 3-Min Chart
Chart created with TradingView
Uber Fourth-Quarter Earnings
Uber, the rideshare company, reported fourth-quarter figures as well, with revenue and earnings per share coming in over analysts’ expectations. Q4 revenue rose to $5.78 billion from 3.5 billion in Q1’2021. Analysts expected 5.35 billion. Earnings per share rose to $0.44 from -$0.06 this time last year and over the -$0.31 expected.
After-hours trading saw Uber stock rise by over 9% following the report. The implied 1-day move was at 16.6%, according to Bloomberg data. The upside action follows the bullish movement in Lyft stock after the rival company reported its own set of results earlier this week. Uber expects first-quarter gross bookings between $25 to $26 billion, which is under the estimated $27.25 billion.
Uber 3-Min Chart
Chart created with TradingView
--- Written by Thomas Westwater, Analyst for DailyFX.com
To contact Thomas, use the comments section below or @FxWestwater on Twitter
