I'd Still Buy Disney Stock Despite Its Disappointing Fiscal Q3. Here's Why.

There's no denying that The Walt Disney Company (NYSE: DIS) misfired last quarter. Although its streaming business' swing to its first-ever operating profit is an exciting milestone to be sure, its theme parks are facing a tough battle with inflation -- its own, as well as the price increases crimping consumer spending. Disney stock fell more than 4% on Thursday following that morning's release of the company's fiscal third-quarter results.

I still contend that Walt Disney is a name worth buying, and even more so after Wednesday's weakness dragged shares to a multi-month low. The market's overlooking a handful of details here, some of which don't show up anywhere in the reported numbers.

All in all, it wasn't a terrible quarter. Revenue grew from $22.3 billion to nearly $23.2 billion during the three-month stretch ending in June, just topping estimates of $23.08 billion. Non-GAAP per-share earnings improved from $1.03 then to $1.39 now, versus expectations of $1.20.

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Source Fool.com