Disney Earnings News: DIS makes streaming strides against Netflix but misses expectations

Disney+ gained 7.9 million subscribers in fiscal Q2.The Walt Disney Company brought a little magic to an earnings season beset by forecast misses on Wednesday. Yes, it also missed Wall Street consensus estimates for earnings and revenue in its fiscal second quarter, but

the entertainment and media conglomerate impressed with a sizable gain of streaming subscribers for its Disney+ unitAfter the close the purveyor of recent hits like Encanto and Luca reported adjusted earnings per share of $1.08 compared with consensus forecasts of $1.19. Revenue was also hurt by a $1 billion charge for the termination of a license agreement, and because of it management reported revenue of $19.25 billion, nearly $800 million short of forecasts. DIS stock has shed 4.

Disney's theme parks unit has also outperformed as Covid-19 restrictions have been reduced and families become more willing to take post-pandemic vacations"At the Disney Media & Entertainment Distribution segment, our film and television productions have generally resumed, although we have seen disruptions of production activities depending on local circumstances," the company said in their earnings statement.

There are multiple past instances of $100, an important psychological figure, working as support over the past seven yearsIf $100 breaks in the regular market today, then Disney stock has further large round figures to use as support. These are namely $90 and $80. $90 worked as support in January and August of 2015 and again in October 2016. $80 was where investors caught DIS

during the bottom of the Covid-19 panic in March 2020 and all the way back during a pullback in October of 2014.below means Disney is already pretty well oversold, but the Moving Average Convergence Divergence has yet to cross over. Wait for that crossover to take place before jumping back into this name.

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Disney stock gains as streaming additions overcome earnings, revenue missThe Walt Disney Co. disappointed Wall Street with earnings and revenue results, but added more streaming subscribers than expected. $DIS posted fiscal Q2 net income of $470 million, or 26 cents a share, on sales of $19.25 billion. 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. 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!
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