Disney 4Q revenue beats expectations, earnings fall short
Capitalist PIG Hedge Fund founding member Jonathan Hoenig and Barron’s Financial Markets reporter Carleton English react.
Streaming might just be Disney’s saving grace.
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Or at least that seems to be the case for The Walt Disney Company’s stock following its Investor Day event on Thursday, where the media giant announced its big plans for Disney+.
The multibillion-dollar company closed at $175.72 per share on Friday, which was 13.59% higher from its previous trading day on the New York Stock Exchange.
|DIS||WALT DISNEY COMPANY||175.72||+21.03||+13.59%|
The Walt Disney Company is launching its Disney+ streaming service in other countries around the world. (AP Photo/Steven Senne)
The brand is also planning to launch in other key markets throughout Europe, the Middle East, Africa and Asia.
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Weeks before its Investor Day, The Walt Disney Company’s CEO Bob Chapek spoke in a fourth-quarter earnings call with investors.
“Despite the many challenges and hardships, I’m proud to say we have been steadfast in effectively managing our businesses under enormously difficult circumstances,” Chapek said at the time. “We haven’t just persevered during these tough times, we’ve also taken a number of deliberate steps and smart risks that have positioned our Company for greater long-term growth.”
He added: “And the impressive resilience Disney has demonstrated while looking past today’s challenges to set the stage for an even brighter future, is a direct reflection of our outstanding team.”
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