The Walt Disney Company (DIS) met revised EPS estimates for Q2 while highlighting certain challenges. Despite almost breaking even with its streaming business, the soft guidance resulted in a 10% drop in shares. Its Q2 earnings had a positive impact on profit outlook and surmounted financial expectations. However, concerns about Disney's parks business have some investors worried.
Many investors are now considering Disney as a 'Wait and See' stock. On the other hand, some believe this maybe the right time to invest in the company. The firm's earnings call led to interesting revelations including the company's future plans of licensing to Netflix with a more 'open mind'.
Disney stock seems to go through fluctuations after each earnings announcement. The company's revenue remained in line with expectations, though the Experience segment seemed tepid. Disney's entertainment segment reported profits and some part of its streaming business was profitable for the first time.
CEO Bob Iger expressed optimism about sealing a long-term NBA rights deal to enhance ESPN's streaming. However, Disney's revenues exhibited a miss, with an EPS of ($0.01) in Q1, and $1.21 adjusted. Despite this setback, there remains a steady institutional ownership of about 67%, signaling a reliance on its company.
The Walt Disney Company DIS News Analytics from Mon, 06 Nov 2023 08:00:00 GMT to Wed, 08 May 2024 06:49:47 GMT - Rating -2 - Innovation 0 - Information 7 - Rumor -3
