Reed Hastings Just Publicly Praised Disney's Streaming Service. Is Disney Stock a Buy?
Shares of Disney (NYSE: DIS) have been hammered this year, and it's no secret why. Investors had placed high hopes on its new streaming business, led by Disney+ and Hulu, but growth has slowed and losses are mounting.
The company's streaming segment lost $1.5 billion in its most recent quarter, and $4 billion for the fiscal year. Though it added 7.8 million domestic subscribers over the last year, average revenue per user fell 10%, meaning revenue at the marquee streaming platform grew just 7%.
Despite the disappointing performance, Disney+ has one unlikely fan, who thinks the streaming service is going to be a big winner in the long run.
Source Fool.com
