Statement From The Walt Disney Company on Letter From Third Point

Rhea-AI Summary

The Walt Disney Company (NYSE: DIS) reported robust financial results for Q3, highlighting resilience during the COVID-19 pandemic. The statement, attributed to Bob Chapek, emphasized record streaming subscriptions and significant revenue growth from the reopening of domestic parks. Disney's board is noted for its expertise in consumer-facing and technology sectors, with an average member tenure of four years, reflecting a commitment to governance and strategic oversight.

Positive

• Record streaming subscriptions in Q3.
• Strong revenue and profit growth in domestic parks.

Negative

• None.

BURBANK, Calif.--(BUSINESS WIRE)-- The Walt Disney Company (NYSE: DIS) issued the following statement today:

“We welcome the views of all our investors. As our third quarter results demonstrate, The Walt Disney Company continues to deliver strong financial results powered by world-class storytelling and our unique and highly valuable content creation and distribution ecosystem. Under the leadership of Bob Chapek, the company has delivered this strong performance while navigating the COVID-19 pandemic and its aftermath, including record streaming subscriptions and the reopening of our parks, where we have seen strong revenue and profit growth in our domestic parks business.

Our independent and experienced Board has significant expertise in branded, consumer-facing and technology businesses as well as talent-driven enterprises. The Board has also benefited from continuous refreshment with an average tenure of four years.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005597/en/

David Jefferson

Corporate Communications

david.j.jefferson@disney.com

(818) 560-4832

Source: The Walt Disney Company

FAQ

What were Disney's Q3 financial results for 2023?

Disney reported strong financial results for Q3, driven by record streaming subscriptions and growth in domestic parks.

What is the impact of COVID-19 on Disney's performance?

Despite the challenges posed by COVID-19, Disney has shown resilience with significant recovery in park revenue and streaming subscriptions.

Who leads Disney and what is the board's experience?

Bob Chapek leads Disney, supported by an independent board with expertise in consumer-facing, technology, and talent-driven industries.

How has Disney's park revenue changed?

Disney has experienced strong revenue growth in its domestic parks following their reopening.

What is the average tenure of Disney's board members?

The average tenure of Disney's board members is four years, reflecting continuous refreshment and governance.