Why Disney+ Became a Minus for the Stock Today
Global economies continue to reopen, helping businesses like Walt Disney's (NYSE: DIS) theme parks and film studios. But the segment that carried the company through the pandemic is taking a toll on the stock today. With subscription growth slowing for its Disney+ streaming service, investors are taking the stock to the woodshed early Thursday. As of 9:50 a.m. EST, Disney shares were tumbling about $15, or 8.5%.
The entertainment giant reported its fiscal fourth-quarter and full-year results last night, and it pointed to a recovery for the businesses that have been slowly coming back from pandemic impacts. Total revenue grew 26% year over year, and cash from operations soared 58%.
Image source: Walt Disney.
Source Fool.com
