Cedears Alert: two Wall Street giants presented results, what to expect from their shares?

On a key day for cedars (Argentine Certificate of Deposit), two giants of Wall Street presented results. Is about disneywho already released his roadmap before the market opened, and Ferrariwhich presented a disappointing balance sheet and its shares are sinking to three-year lows.

The parks and experiences segment of disney increased its revenue by 10% to US$8.4 billion Dollarswith international business being the main driver.

Revenue from international parks and experiences increased by 29%, reaching US$1.5 billionwhile national revenue for this segment registered an increase of 7%, reaching $6 billion. disney also recognized a 3% increase in consumer products revenue in this segment.

However, the company’s revenue did not meet expectations and Its shares sink -5.1% before the opening of the New York plazabut that red extends to a drop of -1.6% in the last month, but in the last six the gain is positive and is close to 40%.

The reason why entertainment revenue for the first quarter of disney did not meet expectations was the 40% drop in content sales and licensing revenue.

Meanwhile, overall operating income at parks and experiences grew 12%, being Walt Disney World Resort and Disney Cruise Line some of the big positive drivers. Disneyland Resort experienced ‘lower results’, according to the statement. At Walt Disney World, the company noted that higher ticket prices motivated guests to spend more at the park. Disney’s cruise business also saw growth in average ticket prices, although both units felt the impact of higher costs as a result of inflation.

Disney said the reason for the poor performance was “lower theatrical distribution results,” due to “no significant titles released in the current quarter compared to ‘Ant-Man and the Wasp: Quantumania’ in the prior-year quarter.” “. In addition, the first quarter results of last year also continued to benefit from “Avatar: The Way of Water”, which premiered in December 2022.

The company also posted higher film cost impairments during the latest quarter. Disney’s total revenue was mostly in line with expectations, as the strength of the company’s experiences business offset shortfalls in its entertainment and sports businesses.

Entertainment revenue fell 5% to $9.796 billion, below the FactSet consensus of $9.933 billion. Dollars. Within entertainment, direct-to-consumer revenue grew 13.2% to $5.642 billion, slightly above the FactSet consensus of $5.627 billion, and linear networks fell 7.8% to $2.765 billion. dollars to exceed expectations of $2,708 million. However, content and licensing sales fell 40.3% to $1,389 million, below forecasts of $1,514 million.

Cedears: what happened to Ferrari

Ferrari announced Tuesday that its core profits rose 13% in the first quarter of the year, but its shares are also sinking as the luxury sports car maker failed to excite investors despite what its CEO called a “very positive” start to the year.

The Italian company said its quarterly results were driven by pricing power, product sales mix and a higher contribution from customized vehicles. He also cited increased deliveries of its €2 million ($2.2 million) Daytona SP3 limited model.

fixed-term investments finances cedears

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In this context, the Italian firm’s shares plummet -3.5%. According to Yahoo Finance, this is the lowest they have fallen in the last three years. However, in the last six months, profits are in positive territory and are close to 30%.

Chief Executive Benedetto Vigna said Ferrari had achieved double-digit growth in both revenue and profit despite stable car deliveries. “This was achieved through an even stronger product and country mix, as well as a greater contribution from customization,” he said in a statement. “Our value over volume strategy remains successful,” he added.

Ferrari’s adjusted EBITDA reached €605 million in January-March, in line with analysts’ expectations in a Reuters poll.

However, shipments fell by seven units to 3,560, dragged down by a 20% drop in the China, Hong Kong and Taiwan region.

Ferrari, whose Milan-listed shares turned negative after the results, confirmed its forecast that full-year adjusted EBITDA will rise to at least €2.45 ​​billion in 2024.