Disney Stock Defies Ho-Hum Earnings

Walt Disney (NYSE: DIS) is making waves. The media giant spiced up its latest financial report by announcing that it will roll out its own consumer-to-direct streaming video service by early next year, a move that dealt an initial hit to Netflix (NASDAQ: NFLX) as a popular hub of Disney content.

The fiscal third-quarter results were newsworthy, too, even as the top- and bottom-line results came in flattish. Revenue of $14.238 billion was just 0.3% lower than a year earlier, and adjusted earnings of $1.58 a share were 2% less than a year earlier.

Image source: Disney.

Source: Fool.com