Walt Disney Co (NYSE:DIS) stock is in retreat in Friday’s pre-market as slower streaming numbers put a dampener on quarterly results which otherwise presented reasons for positivity.
The results beat expectations with earnings marked at US$901mln on US$15.61 of sales, and earnings per share reported at 79 cents vs market consensus that was pitched at 26 cents.
Disney’s theme parks and products division, which is re-emerging after Covid-closures, saw US$3.17bn of sales smashing expectations of US$1.24bn with the company noting that consumer products and video game licensing driving the performance.
At the same time, Disney announced a further expansion in park capacities as its ongoing reopening continues.
“Forward-looking bookings for park reservations at both of our domestic parks are strong, demonstrating the strength of our brands as well as growing travel optimism as case counts decline, vaccine distribution ramps, and government restrictions loosen,” chief financial officer Christine McCarthy said.
Disney’s streaming numbers disappointed investors, as Netflix stats did in April, with Disney+ subscribers totalling 103.6mln some 6mln users shy of Wall Street expectations. It comes after Disney previously flagged it had passed 100mln subs in March, at around the same time that new Marvel Studios content was released on the platform.
Adding Hulu and ESPN+ subscribers saw the tally reach 158.8mln.
The company generated some US$4bn of revenue in its streaming business, a shade beneath expectations.
After closing Thursday at US$178.34, up 0.28%, the stock fell away in out of hours dealing – ahead of Friday’s open Disney is down 3.8% at US$171.57.
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.