“On a total company basis, as Bob mentioned earlier, we are still on pace to meet or exceed our $7.5 billion annualized cost target by the end of fiscal 2024.”

In context

“uise Line and the success of Marvel's Spider Man 2 at our games business. And segment margins expanded by over 50 basis points versus the prior year, an achievement delivered despite tough comparisons at Walt Disney World coming off its highly successful 50th anniversary celebration in the prior year and significant cost pressures driven by wage increases. We remain optimistic about the segment's continued top line and profit growth, notwithstanding the tough comps domestically in Q2, and we still expect robust OI growth at experiences for the full year. We plan to invest approximately $60 billion into the business over the next 10 years, of which approximately 70% is earmarked for incremental capacity expanding investments around the globe, which we expect to generate attractive returns. On a total company basis, as Bob mentioned earlier, we are still on pace to meet or exceed our $7.5 billion annualized cost target by the end of fiscal 2024. I'm pleased with how this is tracking so far. Total expenses in Q1 were down 4% versus the prior year, and the efficiencies we've been realizing are a key contributor to that progress. And we are also still on track to generate about $8 billion in free cash flow this fiscal year. Putting all this together, we are confident in the progress we are making and the path it puts us on to become a strong cash generator and earnings compounder starting in fiscal 2024. To that end, we expect full year fiscal 2024 earnings per share excluding certain items to increase by at least 20% versus 2023 to approximately $4.60. You already heard from Bob about our updated plans for shareholder returns this year. And as he mentioned, we intend to continue investing in our growth businesses while also mainta”