(Tiper Stock Exchange) – Walt Disney closed its fiscal first quarter with a EPS which came in at 99 cents on an adjusted basis, higher than the 78 cents per share estimated by analysts. Above expectations also the sales which was equal to 23.51 billion dollars and which compares with the 23.37 billion turnover indicated by the consensus.
Total Disney+ subscribers stood at 161.8 million.
The company led by Bob Iger, has announced a restructuring plan aimed at realizing $5.5 billion in savings in the next five years. In particular, it will cut its workforce by 7,000or 3% of the total.
Disney is “embarking on a significant transformation” that will result in “sustained growth and profitability in our streaming businesses, positioning us to navigate global economic challenges and deliver results for shareholders,” the company said.
Walt Disney stock in afterhours trading on Wall Street reacted as much as 9% as the floor appears to have cashed in on the market boost.