Walt Disney Company (The)

Good day and welcome to the Walt Disney Company third quarter 2024 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After some brief introductory remarks, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, today's event is being recorded. I would now like to turn the conference over to Alexia Quadroni, Vice President, Investor Relations. Please go ahead.

Good morning. It's my pleasure to welcome everybody to the Walt Disney Third Quarter 2024 Earnings Call. Our press release, Form 10-Q, and management's prepared remarks were issued earlier this morning. and are available on our website at www.disney.com forward slash investors. Today's call is being webcast, and a replay and transcript, as well as the third quarter earnings presentation, will all be made available on our website after the call. As we previously announced, today's call will follow a new format consisting only of a question and answer session. Joining me this morning are Bob Iger, Disney's Chief Executive Officer, and Hugh Johnson, Senior Executive Vice President and Chief Financial Officer. As we start the Q&A session, we ask that you please try to limit yourself to one question in order to help us get to as many analysts as possible today. And with that, operator, we're ready for the first question.

Yes, ma'am. And before the first question, just as a reminder, please press star then 1 to enter the question queue, and star then 2 will remove yourself from queue. Today's first question comes from Jessica Reef Ehrlich with Bank of America. Please go ahead.