Why Is Everyone Talking About Disney Stock?
The Walt Disney Company (NYSE: DIS) is capturing the attention of investors after it reported fiscal 2022 third-quarter financial results in August. In that report, Disney highlighted a significant milestone -- it surpassed Netflix (NASDAQ: NFLX) in total subscribers. The streaming pioneer had a several years' head start against Disney, so the accomplishment is noteworthy, to be sure.
Disney hesitated before jumping in with both feet into the streaming business. It feared the new segment would steal customers away from its more lucrative cable TV business. But now that it is committed to streaming, the early results encourage shareholders. Let's look closer.
In its most recent quarter, which ended on July 2, the House of Mouse added 14.4 million Disney+ subscribers from the previous quarter. Across its three services, which include Hulu and ESPN+, Disney boasts 221 million. That gave it just the slightest lead over Netflix, which claimed 220.67 million subscribers as of June 30.
Source Fool.com
