Disney's Cost-Cutting Success: $7.5 Billion Reductions and Profit Surpass Estimates
TL;DR Summary
Disney CEO Bob Iger revealed four building opportunities for the company's future success during the Q4 2023 earnings call. These opportunities include achieving profitability in streaming, building ESPN into a leading digital sports platform, improving the output and economics of film studios, and turbocharging growth in the Experiences business. Iger expressed optimism about the progress made so far and emphasized the potential of a combined Disney+, Hulu, and ESPN streaming experience. He also highlighted the company's focus on driving profitable growth and value creation as they transition from a period of fixing to a new era of building.
- Disney Earnings Q4 2023: CEO Bob Iger Reveals Four Building Opportunities The Walt Disney Company
- Disney expands cost-cutting plan by $2 billion, posts better-than-expected profit CNBC
- Disney to Accelerate Cost Cutting as It Pushes for Streaming Profitability The Wall Street Journal
- The Walt Disney Company Reports $7.5 Billion in Overall Cost Reductions for Fiscal Year 2023, $2 Billion More Than Originally Targeted WDW News Today
- Disney beats profit estimates amid steeper cost cuts as Bob Iger faces activist investors New York Post
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