Disney stock gains as streaming additions overcome earnings, revenue miss

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

The 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.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Earnings preview: Is Disney+ in for a wake-up call like Netflix?A perfect storm of factors --- inflation, a slew of streaming services, the war in Ukraine and subscriber fatigue --- have conspired to muzzle streaming... Cancelled my subscription . Kids and family aren’t supporting $Dis
Source: MarketWatch - 🏆 3. / 97 Read more »