Why Disney Stock Is Moving Higher Thursday
Portfolio Pulse from Adam Eckert
Walt Disney Co (NYSE:DIS) shares are trading higher following the company's Q4 financial results. Despite missing revenue estimates, Disney beat earnings per share estimates. The company added nearly 7 million Disney+ subscribers in Q4, and expects its combined streaming businesses to reach profitability in Q4 2024. Disney is on track to achieve $7.5 billion in cost reductions for the year. The company also announced the upcoming launch of ESPN Bet and plans to recommend a dividend declaration by year-end.
November 09, 2023 | 1:58 pm
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POSITIVE IMPACT
Disney's Q4 results and future plans, including cost reductions, the launch of ESPN Bet, and a potential dividend declaration, are driving its stock price higher.
Disney's Q4 results, despite missing revenue estimates, beat earnings per share estimates, which is a positive signal to investors. The addition of 7 million Disney+ subscribers and the expectation of profitability for its streaming businesses by Q4 2024 also contribute to investor confidence. The company's cost reduction efforts and the upcoming launch of ESPN Bet add to the positive outlook. The potential dividend declaration is another positive factor that could attract income-focused investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100