Walt Disney Co. has a profit problem, and that’s helping to send shares of the media giant toward their worst daily performance in more than two decades.
“Rarely have we ever been so incorrect in our forecasting of Disney profits,” he wrote in a note to clients. “Given the company’s confidence that Parks trends appear resilient, it appears that the culprit for the massive earnings downgrade is much higher than expected [direct-to-consumer] losses and significant declines at Linear networks.”
“This goes back to our long-running view that treating linear and DTC as separate business segments makes little sense; they are just different distribution channels for the same content in a largely zero-sum game with greatly increased competitive intensity, aside from potential expansion into international markets,” he wrote, as he kept a market-perform rating on the shares and reduced his target price to $94 from $124.
Sold my share 2 years ago after Michael Eisner left
They can probably just layoff another 30K employees and dump dividends to investors if they even reactivated them...kinda like they did during the plandemic
Go woke go broke
No Walt Disney has a WOKE PROBLEM- 💯
Strange, suddenly investors are expecting the Companies they own to turn a profit.
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