Why Shares of Walt Disney Dropped 14% in November
Shares of Walt Disney (NYSE: DIS) fell 14.3% last month, according to data provided by S&P Global Market Intelligence, following its fiscal fourth-quarter earnings report. While Disney+ subscriber growth slowed during the quarter, the real culprit for the stock's performance is the lower-than-expected results at the theme parks.
Overall, Disney's parks are in much better shape than a year ago, but last quarter's operating profit of $640 million from the parks, experiences, and products segment was shy of analysts' expectations of $890 million. The performance of the parks contributed nearly half of Disney's operating profit during the quarter, so it's an important component to the Disney empire.
Image source: Walt Disney.https://dmedmedia.disney.com/disney-plus/images?image_id=brand_landing_device-ctv_aec26492
Source Fool.com
