Disney Says 'In the current quarter, the Company recorded a charge of $101 million related to a legal ruling, largely offset by a $90 million gain on its investment in DraftKings, Inc. (DraftKings), which was sold in the current quarter.'
Portfolio Pulse from Benzinga Newsdesk
Disney has recorded a charge of $101 million due to a legal ruling, which was largely offset by a $90 million gain from its investment in DraftKings, Inc. The investment was sold in the current quarter.
August 09, 2023 | 8:39 pm
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NEUTRAL IMPACT
Disney's financials are impacted by a legal charge of $101 million, but this is largely offset by a $90 million gain from the sale of its DraftKings investment.
The legal charge is a negative impact on Disney's financials, but the gain from the sale of its DraftKings investment largely offsets this. The net impact on Disney's financials is likely to be minimal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Disney's sale of its DraftKings investment resulted in a $90 million gain, indicating a positive return on its investment.
The sale of Disney's DraftKings investment does not directly impact DraftKings' operations or financials. However, the gain realized by Disney indicates a positive return on its investment.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50