Walt Disney (NYSE: DIS) is on top of the world these days, but it's not at the top of its game in terms of its recent financial performance. Disney stock broke through to new all-time highs in December, but this is also a company that just posted a quarterly loss on a 23% year-over-year plunge in revenue in its latest financial update.
To Disney's credit, the top-line slide and bottom-line deficit were actually healthier than what analysts were forecasting on both ends of the income statement. No one expects Disney to be firing on all cylinders when you're getting hit hard by a pandemic with theme parks closed or running at lower capacities, cruise ships off the travel menu, and folks hesitant to take the family out to the corner multiplex for a matinee. Disney is riding high right now because investors are excited about the future, fueled by the amazing rookie season at Disney+.
You can apparently teach an old mouse some new tricks, but will it be enough to keep the gains coming in 2021? Let's dive in to see if Disney stock is a buy here.
Source Fool.com