Disney shares surge 11% after results, and brokerages firms increase target of Disney to $138.
The Walt Disney Company reported its fourth-quarter and full-year earnings on Thursday, with CEO Bob Iger and CFO Hugh Johnston highlighting the company's strategic efforts to improve quality, innovation, efficiency, and value creation.
"As I reflect on the two years since my return to the company, I’m incredibly proud of the progress we've made," Iger said during the post-earnings call. "We have emerged from a period of significant challenges and disruptions, and we are well positioned for growth. We implemented specific strategies to generate growth across our businesses, and the solid results this quarter clearly indicate their success."
Iger and Johnston described 2024 as a "pivotal and successful year" for the company. They noted, "Thanks to the significant progress we made, we have successfully moved past a period of considerable challenges and upheaval, and we're optimistic about our future."
"Overall, we have much to be proud of, both creatively and financially," Iger stated. "As we look ahead to fiscal 2025 and beyond, we are confident in our ability to drive sustained growth and create shareholder value through our world-class portfolio of assets."
The renewed creative strength seen at Disney’s studios is a result of extensive efforts the company began two years ago to place creativity at the center of its operations. This is evident from Disney's performance at the summer box office, where it became the first studio to surpass $4 billion in global earnings in 2024. In fact, the fourth quarter was one of the most successful periods in the history of Disney's studios, as Pixar's *Inside Out 2* and Marvel's *Deadpool & Wolverine* broke numerous box office records, emerging as the top two movies of the year to date.
