Shareholders at The Walt Disney Company are smiling after positive results were reported in today’s Q1 2022 Earnings Call!

After a disappointing Q4 2021, all eyes were on Disney Plus and whether subscriptions would rebound after stalling near the end of last year. Disney Plus added 11.8 million subscribers in Q1 2022 bringing its total subscriber count to 129.8 million. Executives expect this number to continue to grow throughout the year as more original content is released on the streaming platform.

On the whole, The Walt Disney Company shattered expectations with $21.82 billion in revenue, beating Wall Street estimates of $18.62 billion. This equals earnings per share (EPS) of $1.06 versus estimates of $0.63 per share. The Disney Parks, Experiences & Consumer Products Division also saw revenue double year over year from $3.6 million (2021) to $7.2 million (2022). The segment also saw its operating income jump to $2.5 billion, as compared to a loss of $100 million during 2021 due to closures and low attendance.

“We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic parks and resorts, the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio to 196.4 million, including 11.8 million Disney+ subscribers added in the first quarter,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 years.”

Here are some noteworthy takeaways from the call. You can see the official release HERE.

• I feel it’s extremely noteworthy to mention that the pre-call music was the Encanto soundtrack. Disney appears to be doubling down on the success of this film and I wouldn’t be surprised to see some parks news that involves the franchise before too long.
• Parks and Resorts achieved all-time operating income records despite the lingering pandemic concerns and the emergence of the Omicron variant.
• Chapek stated that Disney’s future for the next 100 years will be built on three pillars: storytelling excellence, innovation, and audience focus.
• This is the second quarterly earnings call where Chapek has made mention of the future of Disney involving sports betting: “While multi-platform television and streaming will continue to be the foundation of sports coverage for the immediate future, we believe the opportunity for the Walt Disney Company goes well beyond these channels, including sports betting, gaming, and the Metaverse.”
• Obi-Wan Kenobi will premier on May 25th on Disney Plus.
• Chapek closed by thanking the companies 195,000 employees, stating, “I am honored to work with the most talented team in the industry to create the next generation of Disney stories and experiences through our focus on storytelling excellence, innovation, and our audience.”
• The company remains confident that it will meet its guidance of 230 to 260 million Disney Plus subscribers by the end of 2024.
• For Q1 2022, approximately one-third of all parks guests purchased Disney Genie Plus, Lightning Lane, or BOTH. This rose to more than 50% of all guests throughout the 2021 holiday season.
• Disney Parks is performing better than 2019 with lower attendance numbers, while attendance continues to strengthen at domestic Disney Parks.
• 90% of hotels at Walt Disney World are currently open. Lingering capacity issues seem strongly correlated with staffing.

Stock prices for The Walt Disney Company are up over 7% in after-hours trading based on these positive results.