Walt Disney Fiscal Q1 Non-GAAP Earnings, Revenue Rise; 2024 EPS Guidance, Share Buyback, Dividend Lift Announced

Walt Disney (DIS) reported fiscal Q1 non-GAAP earnings late Wednesday of $1.22 per diluted share, up from $0.99 a year earlier.

Analysts polled by Capital IQ expected $1.04.

Revenue for the quarter ended Dec. 30 was $23.55 billion compared with $23.51 billion a year earlier. Analysts surveyed by Capital IQ expected $23.77 billion.

The company said it expects fiscal 2024 non-GAAP EPS of about $4.60, up at least 20% from the previous year. Analysts polled by Capital IQ expect $4.34.

Disney said it is targeting $3 billion worth of share repurchases in fiscal 2024 under a new buyback program.

Additionally, the company declared a cash dividend of $0.45 a share, 50% higher than the last dividend paid in January,

payable on July 25 to shareholders of record on July 8.

Disney shares rose more than 7% in recent Wednesday after-hours trading.

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