Walt Disney quarterly results beat estimates
The company’s shares finished 0.67% higher and were up 3% in after-hours trading Thursday
Stocks impacted: The Walt Disney Company (DIS)
The media and entertainment giant reported a first-quarter profit of $17 million or $0.01 per share, compared with last year's profit of $2.11 billion or $1.16 per share while adjusted earnings were $0.32 per share, down from $1.53 per share last year. Revenues for the quarter slipped 22% to $16.25 billion from last year's $20.88 billion last year. Investors overlooked a 53% decline in park revenue in the quarter and welcomed Disney+ streaming reaching 94.9 million subscribers. Disney+ is expected to deliver more revenue in March when the monthly fee rises in the U.S. and in Europe. Disney shares finished 0.67% higher and were up 3%, to reach a 52-week high in after-hours trading Thursday
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