Disney Shares Slide on Surprise Streaming Subscriber Dip

Disney reports quarterly earnings before the bell on Wednesday, and investors will be focused on the direction of the company’s streaming and theme parks business — as well as further updates on CEO Josh D’Amaro’s strategy for growth. Disney’s fiscal third-quarter earnings will be released less than five months since D’Amaro took over for Bob Iger as CEO. In that time the company has seen layoffs across the company, the most recent round reportedly occurring in July at divisions including ESPN. Here’s how Disney is expected to perform in its fiscal third quarter, according to LSEG: Earnings per share: $1.86 expected Revenue: $25.40 billion expected Last quarter D’Amaro outlined his plans for future growth, much of which focused on investing in intellectual property and advancing technology around storytelling, particularly in the context of boosting theme parks and streaming. In addition to details around layoffs and other cost-cutting measures, Wall Street will be keen to hear how current macroeconomic conditions are affecting Disney’s businesses. Theme parks remain a driver of revenue and profit. But the effects of the U.S.-Israel conflict with Iran and related jump in oil prices has affected some of Disney’s peers. In July, Comcast’s NBCUniversal reported that its Orlando parks experienced lower attendance during its most recent quarter due to what executives called “weakness in consumer sentiment and higher travel costs.” Last quarter Disney said that despite these trends and broader uncertainty for consumers, demand at domestic parks remained healthy and there had been an increase in guest spending during the quarter. In addition to Disney’s experiences division, streaming will once again take up much of the attention for investors. Wall Street will be looking for