Disney (DIS, Financial) reported Q1 earnings per share of $1.40, exceeding analyst estimates by 9 cents. Revenue increased 5% year-over-year to $24.7 billion, surpassing expectations by $150 million.
For fiscal 2025, the company expects adjusted EPS growth in the high single digits and operating cash flow of about $15 billion, aligning with Bloomberg's consensus estimates of 8.1% EPS growth and $15.09 billion in cash flow. Disney+ subscribers totaled 124.6 million, including 56.8 million domestic and 67.8 million international users. Hulu subscribers stood at 53.6 million.
Domestic Disney+ ARPU rose to $7.99 from $7.70, while international ARPU increased to $7.19 from $6.78 due to pricing hikes. Looking ahead, Q2 Disney+ subscribers may decline slightly, with $100 million in sports-related costs and $50 million from exiting the Venu Sports joint venture.
Additionally, 2025 costs include $200 million for Disney Cruise Line expansion and a $300 million equity loss from the Star India deconsolidation.
