4 big earnings hits: Disney, Eli Lilly, Alibaba emerge victorious; UPS falls flat
Here is your Pro Recap of the biggest earnings reports you may have missed this week and how analysts responded: numbers out of Disney, Eli Lilly, UPS, and Alibaba.
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Walt Disney (NYSE:DIS) led the Dow higher Thursday after the media conglomerate detailed plans to hike prices for its streaming business to boost growth, even despite its fiscal third-quarter revenue miss.
The company's top line came in at $22.33 billion, just under the $22.49B consensus, although adjusted EPS of $1.03 beat estimates by $0.04.
Subscribers to its Disney+ streaming service also fell to 146.1 million, missing estimates of 151.1M, pressured by a 24% slide in subscribers on the Hotstar streaming platform in India.
Disney plans to raise prices for its ad-free streaming services, including Disney+ and Hulu — ad-free Disney+ will cost $13.99 monthly, $3 more than before — but ad-supported tiers will remain unchanged.
Disney also said that, starting next month, it will charge $24.99 per month for its «Trio Premium» bundle of Disney+, Hulu, and ad-supported ESPN+ — up from $19.99 previously. And a new ad-free premium bundle of Disney+ and Hulu will cost $19 monthly.
Citi said the results were in line with expectations, while BofA says it is «confident in [CEO] Bob Iger’s ability to navigate the company through this transition period,» despite several remaining strategic questions.
Shares jumped some 4.9% to $91.76 Thursday.
Eli Lilly (NYSE:LLY) shares surged nearly 15% Tuesday after the pharma giant reported a much better-than-expected Q2 and lifted its full-year forecast.
Lilly reported EPS of $2.11 on revenue of $8.31B, crushing the consensus for earnings of $1.98
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