Disney says streaming is nearly breakeven, but shares sink 10% on soft guidance
Publishing timestamp: 2024-05-07 12:11:19
Summary
Disney reported earnings that beat estimates, but shares sank as revenue missed expectations for the fourth consecutive quarter. The company's streaming services turned a profit, but traditional TV revenue and box office sales slumped. Disney's total segment operating income increased, driven by its streaming businesses. Despite a slight miss in revenue, the company remains on track to achieve profitability in its combined streaming businesses in Q4.
Sentiment: MIXED
Tickers: DIS,
Keywords: business, breaking news: earnings, business news, bob iger, media, earnings, walt disney co, entertainment, breaking news: business,
Source: https://www.cnbc.com/2024/05/07/disney-dis-earnings-q2-2024.html