On November 14th, Disney released its Q4 and full year financial report for the 2024 fiscal year, showing a revenue of $22.6 billion, a year-on-year increase of 6%; The annual revenue was 91.4 billion US dollars, a year-on-year increase of 3%. Diluted earnings per share (EPS) for the fourth quarter were $0.25, a year-on-year increase of 79%; Diluted earnings per share for the year increased from $1.29 in the same period last year to $2.72.
The financial report shows that Disney's performance growth is mainly driven by its entertainment business, and the profitability of its streaming business has also improved. The entertainment sector generated approximately $10.8 billion in revenue in the fourth quarter, a year-on-year increase of approximately 14%. Among them, the operating profit of the entertainment division doubled in this quarter, reaching $1.1 billion. This growth is attributed to two popular movies, "The Secret Service 2" and Marvel's "Deadpool&Wolverine," which contributed $316 million in operating profit to content sales, licensing, and other businesses.
In addition, the streaming media business achieved an operating profit of 321 million US dollars, compared to a loss of 387 million US dollars in the same period last year. Data shows that Disney's streaming users are growing rapidly, with 174 million subscribers at the end of the fourth quarter, of which 120 million are paid subscribers to Disney+, an increase of 4.4 million from the previous quarter.
The Disney experience business, including theme parks, hotels, cruise ships, and merchandise, saw a 1% increase in revenue to $8.24 billion in the fourth quarter, while operating profit decreased by 6% to $1.7 billion. The revenue of international theme park business has declined, and Disney stated that the main reason is the high cost brought by new tourist experiences such as Disney cruise ships.
Disney expects to achieve high single digit growth in adjusted earnings per share for the fiscal year 2025 and plans to repurchase $3 billion worth of stock; Both the 2026 and 2027 fiscal years will achieve double-digit growth in adjusted earnings per share.