Disney Is Serious About Disrupting Netflix
Disney's (NYSE: DIS) hotly anticipated summertime quarterly report was out last week and was chock-full of details -- a few good ones as well as a number of not-so-good "surprises."
While theme park revenue rose due to ticket price increases, traffic was down. Expenses related to the 21st Century Fox acquisition killed earnings growth, though not surprisingly as this was the first full quarter after the merger. And profits for the high-flying movie business were less than expected, mostly because of the also not surprising underperformance of the X-Men film Dark Phoenix.
Still, investors seemed to be wearing rose-colored glasses headed into the report and seem taken aback by the mixed numbers generated during this time of heavy investment spending at Disney. However, the company is putting the final touches on some transformative moves, with its Disney+ streaming service at the heart of it all.
Source Fool.com
