If you were a conspiracy theorist you could argue it's not a coincidence that Walt Disney (NYSE: DIS) scheduled its fiscal fourth-quarter results on Nov. 12. It was a year ago on this date that the media giant launched Disney+, the streaming service that has changed the way investors view the Mickey Mouse investment.
Disney+ has provided a breath of fresh air to the company just when it needed it the most. Its theme parks are all underperforming -- and its California gated attractions aren't performing at all. Disney had all six of the country's highest grossing movies last year, but it's been pulling its 2020 releases until folks are comfortable heading back to the multiplex. Disney's media networks have held up better, but there's no escaping the weak ad market and the cord-cutting trend eating away at that segment. Disney+ has been a rock star. It's the lone smash hit on an otherwise dud fiscal 2020 album for Disney.
If the timing of Thursday afternoon's earnings release is intentional, Disney will get through what will undeniably weak numbers pitted against the prior year's fiscal fourth quarter. Disney's studio entertainment and theme parks segments will drag down the numbers. However, it will be able to cap the report off with a birthday cake. Happy birthday, Disney+. Blow out the candle.
Source Fool.com