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. Read More...
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Disney Reports Earnings Miss, but There Was Some Good News in Streaming
Walt Disney reported significantly worse-than-expected quarterly earnings per share on Wednesday, but narrowly exceeded expectations on the all-important streaming subscriber front. Expectations were low going into the report, with Disney stock down by nearly a third since its previous quarterly report and other streaming-centric companies generally disappointing shareholders this earnings season. Shares of Disney (ticker: DIS) were down 3.5% in after-hours trading, after initially jumping as much as 4%.
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