Disney Finally Has Good News. Will the Stock Keep Gaining?
Walt Disney's (NYSE: DIS) turnaround seems to be finally gaining some traction. The House of Mouse delighted investors on Thursday with its latest quarterly report and the stock price jumped 11.5%, its best single-day post-earnings performance in nearly 15 years.
The surge in the stock came as Disney reported strong growth on the bottom line, raised its dividend by 50%, set a date for its flagship ESPN streaming service, revealed a new stake in Epic Games, and said Disney+ would become the exclusive streamer of Taylor Swift's concert film.
Revenue in the quarter was flat at $23.5 billion, which missed estimates of $23.8 billion. However, investors were willing to overlook the lack of growth as revenue shifted to growth businesses like the direct-to-consumer streaming segment, which was up 15% year over year to $5.5 billion, and the experiences segment, which rose 7% to $9.1 billion.
Source Fool.com
