The Walt Disney Company discussed fiscal second quarter 2022 financial results via a live audio webcast on Wednesday, May 11, 2022.
Certain statements in this call may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our future performance; business or financial prospects, trends or outlook; business plans; demand pipeline; financial or performance estimates or expectations, including estimated operating income, operating results, programming and production costs and cash content spend; future subscriber levels; expected drivers; estimates of the financial impact of certain items, accounting treatment, events or circumstances; anticipated demand, timing, availability, utilization or nature of our offerings (including experiences and business openings, content within our products and services and content releases); business recovery; impacts of COVID-19; consumer sentiment, behavior or demand; growth and drivers; strategies; direct-to-consumer expansion and new subscription offerings; and other statements that are not historical in nature. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements.
Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments, asset acquisitions or dispositions, new or expanded business lines or cessation of certain operations) or other business decisions, as well as from developments beyond the Company’s control, including:
- further changes in domestic and global economic conditions;
- changes in or pressures from competitive conditions and consumer preferences;
- health concerns and their impact on our businesses and productions;
- international, regulatory, political, legal, or military developments;
- technological developments;
- labor markets and activities;
- adverse weather conditions or natural disasters; and
- availability of content;
- each such risk includes the current and future impacts of, and is amplified by, COVID-19 and related mitigation efforts.
Such developments may further affect entertainment, travel and leisure businesses generally and may, among other things, affect (or further affect, as applicable):
- our operations, business plans or profitability;
- demand for our products and services;
- the performance of the Company’s content;
- the advertising market for programming;
- income tax expense; and
- performance of some or all company businesses either directly or through their impact on those who distribute our products.
Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended October 2, 2021 under the captions “Risk Factors,” “Management’s Discussion and Analysis,” and “Business,” and subsequent filings with the Securities and Exchange Commission, including, among others, quarterly reports on Form 10-Q.