{"id":31968,"date":"2023-10-19T17:34:11","date_gmt":"2023-10-19T17:34:11","guid":{"rendered":"https:\/\/innodebt.com\/investing\/disney-reveals-espns-financials-proving-its-sports-business-isnt-imploding\/"},"modified":"2023-10-19T17:34:12","modified_gmt":"2023-10-19T17:34:12","slug":"disney-reveals-espns-financials-proving-its-sports-business-isnt-imploding","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=31968","title":{"rendered":"Disney reveals ESPN\u2019s financials, proving its sports business isn\u2019t \u2018imploding\u2019"},"content":{"rendered":"
\n

Walt Disney Co. offered investors their first glimpse at ESPN\u2019s financials Wednesday with disclosures that struck one analyst as a \u201crelief.\u201d <\/p>\n

ESPN generated $12.6 billion in revenue during the nine months that ran through July 1, up from $12.3 billion in the comparable period a year before. The business brought in $1.9 billion in operating income during the same span, down from about $2.1 billion in the year-earlier span. <\/p>\n

\n

The ESPN breakout includes financials from Disney\u2019s
\n DIS,
\n +0.38%<\/bg-quote>
\n eight domestic ESPN-branded television channels, along with ESPN on ABC, the ESPN+ streaming service and ESPN-branded international channels. <\/p>\n

The business sits within the sports segment of Disney\u2019s newly recast financials. On the whole, the sports unit, which also includes Star-branded sports networks in India, brought in $13.2 billion in revenue for the nine months through July 1, compared with $13.4 billion in the same period a year prior. Operating income for the sports segment came in at $1.5 billion over the nine-month period, versus $1.8 billion a year earlier. <\/p>\n

\u201cThere\u2019s perhaps more durability in ESPN\u2019s top-line growth than expected,\u201d Wells Fargo analyst Steven Cahall wrote. \u201cThe real test comes when ESPN launches DTC,\u201d meaning the long-awaited streaming service for the flagship network. <\/p>\n

Don\u2019t miss: <\/strong>ESPN\u2019s \u2018melting iceberg\u2019 is yet another challenge for Disney, analyst says<\/p>\n

Cahall further noted that excluding Star, the sports business \u201cis not declining at an overly precipitous rate.\u201d Disney still has to navigate the eventual move of sports programming from linear television to streaming against the backdrop of soaring rights fees, but the latest financial disclosures \u201cmay provide some semblance of relief that the main Sports biz isn\u2019t imploding as we speak,\u201d he noted. <\/p>\n

Disney Chief Executive Bob Iger said earlier this year that traditional TV was near \u201cobsolescence\u201d as he teased a potential sale of linear assets. He also mentioned looking for a strategic partner for ESPN.<\/p>\n

Read:<\/strong> Should the NFL buy ABC from Disney? One analyst makes the case.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Walt Disney Co. offered investors their first glimpse at ESPN\u2019s financials Wednesday with disclosures that struck one analyst as a \u201crelief.\u201d ESPN generated $12.6 billion in revenue during the nine months that ran through July 1, up from $12.3 billion in the comparable period a year before. The business brought in $1.9 billion in operating […]<\/p>\n","protected":false},"author":1,"featured_media":31969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[32],"tags":[],"class_list":{"0":"post-31968","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nDisney reveals ESPN\u2019s financials, proving its sports business isn\u2019t \u2018imploding\u2019 | Innodebt<\/title>\n<meta name=\"description\" content=\"Walt Disney Co. offered investors their first glimpse at ESPN\u2019s financials Wednesday with disclosures that struck one analyst as a \u201crelief.\u201d ESPN\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/innodebt.com\/?p=31968\" \/>\n<meta property=\"og:locale\" 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