Naeem Aslam
Zaye Capital Markets
Disney
On Tuesday, Disney reported that its profit and major revenue divisions for the fiscal fourth quarter fell short of projections. The company also cautioned that the high growth in streaming for its Disney+ platform might slow down going forward.
During the after-hours trading session, the company's stock dropped by around 8%.
The corporation's quarterly earnings fell short of the expectations of Wall Street on both the top and bottom lines. This was due to the underperformance of the company's parks and media divisions. Christine McCarthy, the Chief Financial Officer, has forecasted revenue growth of less than 10% for the current fiscal year, which she has used to set realistic expectations for investors. The corporation reported a 22% increase in sales for the fiscal year 2022.
According to Wall Street estimation, Disney+ brought in an additional 12.1 million subscribers over time, bringing the total number of subscribers for the platform to 164.2 million. This figure exceeds the 160.45 million subscribers that industry experts had anticipated.
On Tuesday's conference call, officials from Disney cautioned that the company's growth might decelerate in the first quarter of the current fiscal year.
The support and resistance areas are market on the price chart below.
The information is purely for education purposes only and cannot be perceived as an advise.
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