Disney under the spotlight

RETURNING CEO BOB IGER HAS PLENTY TO PROVE

This a momentous year for Walt Disney (DIS:NYSE) as it turns 100 years old.

However, investors fear the firm is losing its appeal with audiences as households swap cable TV for streaming services and children swap cartoons for online gaming.

Analysts at US bank Wells Fargo expect chief executive Bob Iger to ‘come out swinging’ with a revamped strategy for Disney’s own streaming service, which remains loss-making, when the firm releases its first-quarter earnings on 8 February.

As well as reanimating the brand, Iger, who ran Disney from 2005 to 2020, has to fend off demands from Trian Management founder Nelson Peltz for a seat on the board of directors.

One thing the results are sure not to be is dull. [IC]

Expectations low at Take-Two

INVESTORS WILL BE LOOKING FOR SIGNS THAT THE GAMING MARKET HAS STABILISED

Expectations for third quarter earnings on 6 February have come down dramatically at Grand Theft Auto game maker Take-Two Interactive Software (TTWO:NASDAQ)

In November 2022 the company downgraded full-year revenue guidance to the end of March by around 8% to between $5.4 billion and $5.5 billion as the post-pandemic video gaming hangover continues.

For the upcoming quarter analysts have penciled in a 3% drop in revenues to $1.46 billion while adjusted earnings per share are expected to fall 33% to $0.88. [MG]