How did DIS outperform forecasts in Q2 2024?

The Walt Disney Company (DIS) outperformed forecasts in Q2 2024, according to the latest financial reports, with total revenue amounting to $23.16 billion and a diluted EPS of $1.43, indicating robust financial performance and a positive market sentiment. |code|Ticker|Name|Date|Total Revenue|EPS Surprise|Diluted EPS|market_code| |---|---|---|---|---|---|---|---| |DIS|DIS.N|The Walt Disney|2023 Q3|2.233E10||-0.25|169| |DIS|DIS.N|The Walt Disney|2023 Q4|2.1241E10|||169| |DIS|DIS.N|The Walt Disney|2024 Q1|2.3549E10||1.04|169| |DIS|DIS.N|The Walt Disney|2024 Q2|2.2083E10||-0.01|169| Disney's outperformance can be attributed to several key factors: 1. **Strong Box Office Performance**: The company's latest theatrical release, "Inside Out 2," grossed $724 million in just two weeks, signaling a successful box office performance and a boost to revenue. 2. **Streaming Services Growth**: Disney's streaming services, particularly Disney+, added 6 million core subscribers at the start of the year, with a significant increase in the U.S. and Canada. This growth in subscribers contributed to the direct-to-consumer business turning a profit for the first time. 3. **Cost Management**: Disney's focus on cost management and efficiency improvements likely played a role in exceeding expectations. The company has been implementing strategies to enhance its theme parks and attract more tourists, which has likely translated into better financial results. Overall, Disney's outperformance in Q2 2024 can be attributed to a combination of successful box office performance, growth in streaming services, and effective cost management. These factors collectively contributed to the company's strong financial results and positive market sentiment.