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caroline: hugh johnston, disney cfo there. we are going to be hearing from eric schmidt on china as well. his think tank holds its first-ever ai expo on competitiveness in that field. meanwhile, let's have a look at what is happening on the share front of infineon. this is a chip-focused business looking at china as well. looking at auto demand, saying china is bottoming. we are seeing healthy demand for infineon products. up 12%. another key chipmaker or builder that is showing we have seen the bottom out in terms of the ev lackluster demand we have seen of late. this is "bloomberg technology." ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-b
caroline: hugh johnston, disney cfo there. we are going to be hearing from eric schmidt on china as well. his think tank holds its first-ever ai expo on competitiveness in that field. meanwhile, let's have a look at what is happening on the share front of infineon. this is a chip-focused business looking at china as well. looking at auto demand, saying china is bottoming. we are seeing healthy demand for infineon products. up 12%. another key chipmaker or builder that is showing we have seen...
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we have hugh johnston with us. hugh, good morning to you. let's walk through the numbers for those investors out there trying to understand what's happening at the firm. as i mentioned, you beat on every estimate on the profit end, but revenue did miss slightly >> good morning, andrew. great to be with you guys. it was another strong quarter for disney we feel terrific about it. operating income grew 17%. eps grew 30% that was 11 cents ahead of wall street the improvement in direct-to-consumer streaming that business lost $600 million in the entertainment portion made $47 million that is a couple quarters ahead. we got there in q2 overall streaming was up 12% which led to 5% revenue growth per quarter. the streaming business was up with 10% revenue growth. 12% oi growth. good strength in the company we feel terrific about the momentum we have right now >> let's breakdown some of it. the first piece is bob iger saying you will be profitable by the end of the quarter >> absolutely. we will go down a little bit in q3 based on icc cricket rights
we have hugh johnston with us. hugh, good morning to you. let's walk through the numbers for those investors out there trying to understand what's happening at the firm. as i mentioned, you beat on every estimate on the profit end, but revenue did miss slightly >> good morning, andrew. great to be with you guys. it was another strong quarter for disney we feel terrific about it. operating income grew 17%. eps grew 30% that was 11 cents ahead of wall street the improvement in...
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May 7, 2024
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these are people resetting expectations hur jo hugh johnston is a good ceo. if he thinks things are really bad, he'll say things are not good he's not saying that carl, they just came through a bitter proxy fight i didn't expect this to be the blowout quarter. i don't know who did, other than people who are ill-informed. perhaps they're more ill-informed shareholders than non-ill-informed i would think if you want to be at disney because you think they manage to win the proxy fight and they're the better operator, you buy the stock. it seems almost brave and foolish. are we supposed to be saying get to the chopper i would forever to say, all right, i'll take some here and buy some lower and expect that sellers will come to their senses or buyers will come in. this stock was at 121 a few weeks ago. maybe that was when you should get to the chopper >> looking at some reaction. bofa reiterates overweight, wells reiterates overweight. >> the country is softer that's why the fed is going to cut. gasoline went up a bit people are more worried about their jobs the s
these are people resetting expectations hur jo hugh johnston is a good ceo. if he thinks things are really bad, he'll say things are not good he's not saying that carl, they just came through a bitter proxy fight i didn't expect this to be the blowout quarter. i don't know who did, other than people who are ill-informed. perhaps they're more ill-informed shareholders than non-ill-informed i would think if you want to be at disney because you think they manage to win the proxy fight and they're...
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jonathan: coming up, disney cfo hugh johnston will be joining us. former white house fellow elliott ackerman and deborah cunningham. that is all still to come. equity futures positive not even .1% on the s&p. yields lower on the 10 year. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. >> the key driver for u.s. equities have been earnings driven by large cap trade. >> they have delivered on the earnings front. >> the biggest driver has been big tech companies. >> near-
jonathan: coming up, disney cfo hugh johnston will be joining us. former white house fellow elliott ackerman and deborah cunningham. that is all still to come. equity futures positive not even .1% on the s&p. yields lower on the 10 year. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself...
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May 8, 2024
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the ceo hugh johnston says price hikes are not impacting streaming negatively. >> we took prices up a little bit in the beginning of this year and it didn't really see much of an impact. as to what the future brings, we are obviously very judicious with the way that we price, we want to provide access to as many guests as we possibly can. but we do believe that the great experiences we provide, people are willing to pay for. tom: disney's cfo speaking to bloomberg. was bring in charlie wells from the team. the results topline for the quarter was a beat but the shares were hammered. what was the investor reaction, where is the fear situated in this stock? >> yesterday was trouble not in the house of mouse, but around it, actually it was a solid second-quarter earnings report for this company. one thing to focus on was disney plus, which is that all-important streaming platform for them, that was profitable for the first time ever. streaming had other challenges around it in other units but disney plus was profitable. what investors are honing in on in the negative sense was the potenti
the ceo hugh johnston says price hikes are not impacting streaming negatively. >> we took prices up a little bit in the beginning of this year and it didn't really see much of an impact. as to what the future brings, we are obviously very judicious with the way that we price, we want to provide access to as many guests as we possibly can. but we do believe that the great experiences we provide, people are willing to pay for. tom: disney's cfo speaking to bloomberg. was bring in charlie...
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May 6, 2024
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. >> by the way, don't miss a first on cnbc interview with disney's cfo hugh johnston. that's storm morning 6:45 a.m. eastern. >>> next up is simon property group. investors watching rent levels and lease spreads to see if higher rates are hurting retailer demand. how would you play this one, simon? >> well, this week is a great consumer read. we just had disney. this is a different lens to look through. but on simon group, i want to be a seller here. if you own, it is time to profit take. there is a couple reasons why. when you look at their portfolio, 50% of the portfolio is in malls. you don't see malls return to where they were pre-covid. you see the all-time high of 157. historically speaking, it is at a rich pe. if you look at the technicals here, use 147 as resistance, you will have an opportunity to buy this lower. the two-day down at 130. you have to be considerate of what we are, despite the fact this is a 5.5 paying yield and a decent stock in the last year. >> jeff, for once let's get lucid, okay? shares down more than 60% in the last year. the company prean
. >> by the way, don't miss a first on cnbc interview with disney's cfo hugh johnston. that's storm morning 6:45 a.m. eastern. >>> next up is simon property group. investors watching rent levels and lease spreads to see if higher rates are hurting retailer demand. how would you play this one, simon? >> well, this week is a great consumer read. we just had disney. this is a different lens to look through. but on simon group, i want to be a seller here. if you own, it is time...
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joh johnston >>> more trouble for boeing dreamliner over inspections that were reported as completed, but never performed. >>> survey data shows young americans are being left out of the housing market and with homes in short supply or simply unaffordable it's tuesday, may 7th, 2024. "squawk box" begins roight now >>> good morning welcome to "squawk box" here on cnbc i'm andrew ross sorkin along with becky quick and joe kernen. i'm in washington, d.c. this morning. we have a big lineup ahead both from d.c. and the nasdaq market site this morning from here, we are talking to s.e.c. chair gary gensler. that interview in the 8:00 hour. joe, you have a big interview in the 7:00 hour. i wish i could be at the table with you i hope to be involved in the con v versation. you have druckenmiller >> it will be a half hour. there will be time or 25 minutes or so, i think, stanley was last on in october. i was just figuring out how to
joh johnston >>> more trouble for boeing dreamliner over inspections that were reported as completed, but never performed. >>> survey data shows young americans are being left out of the housing market and with homes in short supply or simply unaffordable it's tuesday, may 7th, 2024. "squawk box" begins roight now >>> good morning welcome to "squawk box" here on cnbc i'm andrew ross sorkin along with becky quick and joe kernen. i'm in washington,...
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we will catch up with the disney ceo hugh johnston. steve eisman, looking forward to that. mark zandi of moody's as well. live from new york city this morning, good morning. this was "bloomberg surveillance." ♪ >> good morning. we are back with two rate cuts. equities continue higher. apple slightly better off as warren buffett trims his position but we will cut you down to the market open. it kicks in in just under 30 minutes time. coming up, futures moving higher after two consecutive weeks of gains. and
we will catch up with the disney ceo hugh johnston. steve eisman, looking forward to that. mark zandi of moody's as well. live from new york city this morning, good morning. this was "bloomberg surveillance." ♪ >> good morning. we are back with two rate cuts. equities continue higher. apple slightly better off as warren buffett trims his position but we will cut you down to the market open. it kicks in in just under 30 minutes time. coming up, futures moving higher after two...
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don't miss our interview with -- disney cfo hugh johnston tomorrow. >> right on the show here. yep. >> first quarter results. we'll see, tomorrow. >>> it is 8:00 a.m. on the east coast. if you're interested. you're waging "squawk box" on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. becky reporting you know by now probably from omaha, nebraska. >> 7:00 a.m. there. >> yes. following the, did that so fast. >> so fast. >> unbelievable. >> didn't say it's 9:00 a.m. you knew -- >> didn't say 7:00 p.m. >> berkshire hathaway shareholder meeting. speaking of that -- >> apple, american express and a company called -- aww -- when greg takes over this place. >> that, you probably know, warren buffett, singing praises of some of his company's top stock holdings. although berkshire revealed this weekend it cut its stake in apple by 13%. it get into that story later this hour. other things we're talking about. watching the "new york times" reporting. talk to jessica, who's still here. about that bid. global paramount decided to open deal negotiations with sony pictures
don't miss our interview with -- disney cfo hugh johnston tomorrow. >> right on the show here. yep. >> first quarter results. we'll see, tomorrow. >>> it is 8:00 a.m. on the east coast. if you're interested. you're waging "squawk box" on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. becky reporting you know by now probably from omaha, nebraska. >> 7:00 a.m. there. >> yes. following the, did that so fast. >> so fast. >>...