It's Just a Matter of Time Before Disney Stock Is Back Above $100
Pull up a stock chart for Walt Disney (NYSE: DIS). Go back nearly six months to May 10, 2023. It's the last time that shares of the media giant traded in the triple digits. It's been a frustrating last few months to be a shareholder, but it seems as if Disney is finally turning the corner.
CEO Bob Iger seems to think so. The initially well-received fiscal fourth-quarter report on Wednesday afternoon had the boomerang helmsman talking about Disney moving away from fixing to building at this phase in its turnaround. There were also some pretty impressive numbers in the financial results. It wasn't a perfect report, but it's hard to believe that this is the same company that was trading at a nine-year low -- yes, even lower than the initial pandemic-related sell-off of early 2020 -- just a few weeks ago.
Disney exceeded expectations on both ends of the income statement. Revenue rose 5% to $21.2 billion, as strength at its streaming business, cruise lines, and theme parks outside of Florida were more than enough to offset weakness at its linear networks, its movie studio, and to a lesser extent its Walt Disney World resort in Florida. A 5% move higher on the top line may not seem like much, but analysts were holding out for flat revenue growth for the fiscal fourth quarter, which ended in September.
Source Fool.com
