When Will Disney Stock Be About More Than Just Disney+?
There was a lot to like in Walt Disney's (NYSE: DIS) financial update on Wednesday afternoon, but all it took was weak net additions at its Disney+ platform to sink the stock. Shares of Disney moved lower despite encouraging top-line results, fueled by a dramatic turnaround at its iconic theme parks.
The 26% surge in revenue for the fiscal fourth quarter was enough to lift all of fiscal 2021 into positive territory. It's a modest 3% increase, but it sets the stage for a healthy recovery with analysts targeting top-line growth in the low teens for fiscal 2022. Investors were holding out for a bit more, but that's not a deal breaker for a stock that is already trading lower year to date. Disney's adjusted profit of $0.37 a share also fell short of Wall Street bottom-line targets, but turning the corner with so many moving parts and rising costs is going to be lumpy.
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Source Fool.com
