Another sizable batch of earnings is expected after the bell tonight, including reports from Walt Disney, Electronic Arts, Tripadvisor and Yelp.
Walt Disney earnings preview
Analysts are expecting Walt Disney to post $1.41 per share in earnings on $13.4 billion in revenue for its second fiscal quarter. In the year-ago quarter, the House of Mouse reported $1.36 per share in earnings and $13 billion in revenue. Analysts expect Walt Disney to report $5.99 billion in Media Networks revenue, $4.27 billion in Theme Parks and Resorts revenue, and $1.99 billion in Film revenue, riding on the back of the movies Rogue One: A Star Wars Story and Beauty and the Beast. Wall Street is also projecting $1.2 billion in Consumer Products and Interactive revenues for the quarter.
Analysts have been keeping a close watch on ESPN, which has been going through restructuring for some time. The sports network has been struggling to keep up with the cord-cutting trend, analysts at BTIG and Macquarie noted recently. Investors and analysts alike will be watching to see whether the company will launch an over-the-air streaming option to attract cord-cutters.
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The Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to Read More
Shares of Walt Disney ticked higher by as much as 0.39% to $111.86 during regular trading hours.
Electronic Arts earnings preview
Wall Street expects Electronic Arts to post earnings of 75 cents per share on $1.09 billion in adjusted revenue, compared to the year-ago quarter’s 50 cents per share and $924 million in sales (excluding deferred gaming revenue) or $1.31 billion in total revenue.
Electronic Arts may have benefited from the release of Mass Effect: Andromeda during the first quarter, which is a hugely popular gaming franchise. However, Pacific Crest analysts believe that the effect was limited, given the negative criticism this latest installment received after it was released. Despite the criticism, NPD still found it to be the third highest-selling game after its release. In comparison, Electronic Arts did not release any major new games during the year-ago quarter. The game maker also isn’t planning to release any major new games in the current quarter.
Shares of Electronic Arts edged upward by as much as 0.13% to $95.85 ahead of the bell.
Tripadvisor earnings preview
Analysts expect Tripadvisor to report earnings of 26 cents per shar eon $377.06 million in revenue. In the same quarter a year ago, the online travel firm reported earnings of 32 cents per share on $352 million in revenue.
The company announced today that it has entered a partnership with GrubHub. Under the terms of the deal, users of Tripadvisor’s desktop and mobile platforms will be able to access GrubHub’s network of restaurants using the GrubHub feature on the restaurant’s page in Tripadvisor.
Shares of Tripadvisor rose by as much as 1.83% to $47.89 going into tonight’s print.
Yelp earnings preview
Yelp is expected to post losses of 8 cents per share on $198.6 million in revenue, compared to the year-ago quarter’s earnings of 8 cents per share and $158.6 million in revenue. The online review firm guided for $195 million to $199 million in net revenues and $25 million to $28 million in adjusted EBITDA for the quarter.
Shares of Yelp slumped by as much as 1.82% to $35.06 before the bell.
