The Walt Disney Co. disappointed Wall Street with earnings and revenue results Wednesday, but added more streaming subscribers than expected in the wake of problems at rival Netflix Inc., sending shares higher in late trading.
The results sent Disney’s stock up almost 5% in after-hours trading Wednesday following the release of the results, after falling 2.3% to $105.25 in the regular session. Disney’s performance in streaming comes amid escalating competition from rivals Netflix NFLX, -6.35%, Apple Inc. AAPL, -5.18%, AT&T Inc. T, +0.36%, Comcast Corp. CMCSA, -1.14% and Amazon.com Inc. AMZN, -3.20% at the a time when belt-tightening consumers are scaling back on subscriptions. Netflix has been especially pinched, losing subscribers for the first time in a decade, because of a variety of reasons that include inflation, the war in Ukraine and competition.
Wall Street is a little bitch with expectations, they posted net income amid hard times and even grew subscribers. Seriously these expectations annoy the shit out of me. I ignore them and look at the bigger picture! My compliments to Disney for the results!
Yet ask any Republican, and they'll say 'go woke, go broke', even after showing $470 net income in 3 months. Shows how they can't even understand basic economics.
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Source: MarketWatch - 🏆 3. / 97 Read more »