Reported 25 days ago
Disney's stock fell nearly 3% despite the company beating fiscal Q3 earnings expectations, primarily due to a significant decline in its linear TV business which raised investor concerns. Although Disney raised its profit forecast for the year, analysts found the outlook underwhelming. The company reported revenue growth from its parks and a profit in streaming, but overall, linear networks faced a 15% drop in revenue. Additionally, Disney plans to merge Disney+ and Hulu next year to enhance its streaming offerings.
Source: YAHOO