.png)
3 hours ago
The Walt Disney Co. (NYSE:DIS) has trimmed its content budget to $23 billion, down from its previous $24 billion allocation, as part of its ongoing cost-cutting efforts — but CFO Hugh Johnston insists that the company remains confident in its earnings outlook.
What Happened: During Disney's first-quarter earnings call, Johnston addressed the company's strategic financial moves, underscoring that cost-cutting is an ongoing process aimed at maximizing efficiency.
“As a company, we’re focused constantly on identifying opportunities where we’re spending money, perhaps less efficiently, and looking for opportunities to do it more efficiently,” Johnston said. “That’s not a once-a-year thing, that’s not a once-a-month thing—that’s something that we do every day of the year.”
Despite reducing content spending by $1 billion, Disney's financial outlook remains strong. The company started the ...
