Tuesday, the stock closed nearly 9% higher Wednesday, after CEO Bob Chapek announced Disney+ subscriber growth and the shift of highly anticipated “Mulan” from theaters to the streaming service. But Disney’s overall revenue in Q3 plunged 42% from last year, while Disney’s parks, experiences and products segment revenue nosedived 85% and the studio entertainment division revenue sank 55%. Meanwhile, the closures of parks, cruises and resorts resulted in a $3.
Wednesday was the increase in free cash flow to $879 million from $596 million, which far exceeded consensus expectations for $552 million. The company has generated $1.1 billion in free cash flow this year, and analysts predict the media outlet will generate $1 billion in free cash flow over the next two quarters.
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