The Walt Disney Co. (NYSE-DIS) was founded by Mr. Walt Disney and Roy Disney on October 16, 1923 in Los Angeles, California, USA. Its business segments include – Media Networks, theme parks and resorts, interactive products, and consumer promotional products. The Media Networks segment includes cable, terrestrial and satellite broadcasting, distribution of television shows and radio stations. The Walt Disney Co (NYSE-DIS) also broadcasts in the entertainment segment, social events and animated films, recorded music, and live theatrical plays. The company owns theme parks and resorts and operates Walt Disney World Resort in Florida, which includes theme parks, hotels, restaurants, sports complexes, convention centers, campgrounds, golf courses, and water sports parks. The Walt Disney Co. (NYSE-DIS) also owns and operates Disneyland Resort in California, Disney Vacation Club and Disney Cruise Line. The company also operates the Disneyland Resort in Paris, the Disneyland Resort in Hong Kong and the Disney Resort in Tokyo, Japan. The company employs 225,000 tribal workers.
The Walt Disney Co (NYSE-DIS) has released its third-quarter 2024 financial results through its earnings report. For the third quarter, the company posted a 4% year-over-year increase in revenue to $23.2 billion. Operating profit recorded a 16.6% increase to $4.2 billion. Excluding all expenses, the company posted a 35% year-over-year increase in net income to $1.39 billion.
Walt Disney World has announced longer hours of operation for its parks throughout August, and a new Walt Disney World virtual queue (Lightning Lane Multi Pass) is now in operation for the 19th day to save guests wait time when entering the property. The company also unveiled new attractions “Avatar,” “Indiana Jones,” “Encanto” and “Monsters, Inc. “The company will celebrate its 70th anniversary next year when a show based on the life of Walt Disney with an audio-animated character of the company’s founder will open at Disneyland Park in Anaheim to mark the occasion. Walt Disney also unveiled two attractions for the new customer expansion, Tropical Americas, located at Disney’s Animal Kingdom park in Orlando, Florida, where, for example, guests watch Indiana Jones explore a Mayan temple, or watch Disney’s animated film “Encanto” featuring the character Antonio on the day he received his magical gift. The new Tropical America attraction is set to open in 2027.
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The company also pays a regular dividend to its shareholders. The quarterly dividend payout is $0.90 per share. The annual dividend yield is 1.04% p.a. These facts have attracted multinational investment corporations and private investors to buy shares of Walt Disney Co. (NYSE-DIS) in particular. 24 Wall Street brokers have set an average target price for the short- to medium-term investment horizon at $117.60 per share.
