Why Disney Shares Popped This Week
Walt Disney (NYSE: DIS) reported its fiscal third-quarter earnings this week, and investors were pleasantly surprised by several items of note. The result has been a jump in the stock, moving shares up about 13% for the week as of midday Friday, according to data provided by S&P Global Market Intelligence. That has brought gains in Disney over the last month to nearly 30%.
Many Disney watchers have been focused on what the company would say about its Disney+ streaming service. Those subscriptions grew more than expected, but that wasn't all that pushed investors into buying the stock. The company's theme park segment saw revenue soar 70% year over year in its third quarter. Overall revenue grew 26% year over year in the quarter and 28% over the last nine months.
Source Fool.com
