we want to welcome hugh johnston, disney's cfo.ng. >> good to be with you, andrew. >> i imagine you're on the west coast. so this is an early morning for you. curious, let's just start -- let's start actually at the nelson peltz of it all, this idea he believes -- there was a moment, a year ago, where the stock popped on some -- on the back of some good news. but it fell back down again. and clearly nelson, i think, is looking at that and saying, is that happening again? >> yeah, it is interesting, andrew. i saw the quote yesterday and i don't know what to do with that. that feels like a bit of an idle complaint in so many ways. let's take a step back and talk about what we really communicated yesterday. number one, all of the hard work over the last year that bob and the team have been doing has generated great results. top line results are solid. bottom line results are really strong. product of all of the businesses doing really well. that was point number one. point number two was we feel confident about the future, which is wh

and disney's cfo hugh johnston details from him tomorrow morning right here on "squawk box." >>> timea share. expectations revenue $1.13 billion. that topped expectations daily ad producers $7.15 million. ahead of the street's consensus. first quarter roblox seeing bookings in range of $940 million better than $903 expected by analysts stock up big on that news. 16%. speaking with the ceo of roblox tomorrow on a first on cnbc interview right here. >>> talk more about eninarningsn the broader market joining us, a global market strategist and london civ chief investment officer and lately made the point that earnings might even be more important, because, perhaps we're not going to get the same number or -- or timing on the fed rate cuts. so earnings, the baton has kind of been passed maybe we keep the same multiple. that doesn't get -- we don't see multiple expanse from a drop in rates, but things a stronger economy can be good in its own right because earnings are good? >> that's right. there's been a lot of focus on earnings primarily how they're managed. very well. that's why i'd sa

. >> that was disney's cfo hugh johnston commenting on espn, fox and warner bros.arly sports bundling announcement. disney shares pushing about a one year high after topping estimates and issuing an upbeat profit outlook for the year, citing cost-cutting benefits and the strong performance of an international theme parks business. disney plus subscribers fell short of estimates and disney says it will invest $1.5 million in epic games. i think we just start with what the streets are probably focused on which is bob iger delivers and they like it. >> about a year ago he announced these big cost cuts, restoration of the dividend, and here we are a year later, same results. you are definitely seeing him deliver on that and he's probably feeling pretty happy about this today. >> he is delivering on profitability, on cost cuts. but ultimately there are still worries about when they really do see growth once again and be subscribers coming back to disney lots when we start to actually see a revenue driver coming from the u.s., not just internationally. indeed, just the m

disney has always been smart about capital allocation, and we have a fantastic new cfo in hugh johnstoncently, and i feel very good about our discipline. >> what about the announcements last week around earnings? nelson did this cartoon where all the -- very flattering portrayal of all you guys throwing spaghetti at the wall, and it was a lot. it was the jb and taylor swift and 1$1.5 billion in epic gamin, and it feels like -- his accusation is it was about the election, it was about the proxy fight, and that the company was doing a lot of razzle-dazzle to juice the stock. >> all i can tell you is bob, when he came back into the ceo role, he outlined strategic priorities for the business, what to do about espn, and the future of its streaming. he wanted the parks and resorts to be in growth mode across the board. he wanted to reduce losses in streaming and get that to profitability and reinvigorate the creative studio. he's acting on all of those initiatives along with his leadership team. i think the investment in epic gaming is a very smart one. i am gen x. my twins are gen z. the swi

they are well on track to meet and most likely it would seem, given the comments from iger and hugh johnstonwere focused on and then you have some of the other announcements not unimportant as well. $1.5 billion stake in epic games which is going to be creating a new digital world for them. aside or alongside the fortnite game they are well known for. possibility of having a movie premier one day in the so-called metaverse. whatever you want to call it. that not insignificant because they see a lot of younger people spending time in gaming and disney wants to be involved there. they're not going to be paying for any of the development that fortnite does but did take the investment position that company and the taylor swift tour as well. >> taylor swift. all over earnings. i mean taylor swift is like the new metaverse or ai or whatever the buzzword is to help companies get their stocks up. >> it is amazing. >> and yeah, i don't know how much of the 10% move in disney shares is due to taylor's concert being exclusively available on disney plus. >> it's a part of it. >> butreally, it is the bel

christina of invesco, and the disney cfo hugh johnston. that and more from new york city.hour of bloomberg "surveillance" is up next. ♪ hi, i'm tali and i lost 85 pounds on golo. (upbeat music) i started golo because i was unhealthy due to my weight. the minute i started taking the golo release, i knew it was working. i was not hungry, and i did not have any cravings. since losing weight with golo, i'm healthier now than i've ever been, and my doctor is thrilled. golo is so much more than weight loss, it's gonna give you your life back. ♪ ♪ ♪ ♪ ♪ ♪ >> you still think recession risk -- we still think recession risk is up but not much of this point. >> you don't know if you will going to recession until you go into it. >> we see a soft patch in this economy during the middle of the year. >> there is validity to saying that things will continue to go well. >> this is bloomberg surveillance with jonathan ferro, lisa abramowicz and annmarie hordern. jon: cruise lines. this is bloomberg surveillance alongside lisa abramowicz and annmarie hordern. fearing close to 5000 yesterday