2 years ago

651

The Walt Disney Company Earnings call went off without much confidence from CEO Robert Iger and that seems to be the general consensus from Wall Street as well.

The Walt Disney Company didn't have a very good quarter. Much of the good news was only good news due to massive write-offs and write-downs for cancelled shows, canceled Galactic StarCruiser, over $2 Billion in impairment charges etc... In other words, it really wasn't the income that helped Disney beat the earnings per share estimates.

ESPN and ABC along with other linear broadcast channels saw continued declines in revenue as Disney desperately wants to dump things like ABC, FX, and National Geographic while also getting the core live sports content of ESPN to streaming as fast as possible.

Bob Iger also was asked about whether the rumors regarding a buy-out of DISNEY by APPLE have any merit and Iger was quick to shoot those down.

BENZINGA
Disney's Latest Quarterly Report Was Magic-Free
https://www.benzinga.com/23/08/33707224/disneys-latest-quarterly-report-was-magic-free

WALL STREET JOURNAL
Disney Gets Iger’s Second Show on the Road
Streaming price increase and ESPN partnership are first strategic moves as growth slows
https://www.wsj.com/articles/disney-gets-igers-second-show-on-the-road-156b0540

HOLLYWOOD REPORTER
A Disney Sale to Apple? Don’t Count It Out This Time
Facing the staggering problems afflicting all legacy studios, is Bob Iger contemplating a once-unthinkable option? The signals he sent in Sun Valley suggest that it could happen.
https://www.hollywoodreporter.com/business/business-news/disney-apple-deal-1235559416/

#disney #stockmarketnews #apple

thumbnail by @JFG

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