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Disney’s quarter wasn’t clean, but we see evidence that CEO Bob Iger’s turnaround plan is working



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Disney (DIS) reported fiscal third-quarter results after the closing bell Wednesday, and it was another mixed quarter even against low expectations. Still, there were enough pockets of optimism in the company’s restructuring plan and streaming strategy to believe CEO Bob Iger’s turnaround is working. Wall Street seems to agree. Revenue increased about 4% year-over-year to $22.33 billion, missing analysts’ expectations of $22.5 billion, according to the consensus estimate compiled by Refinitiv. Earnings-per-share fell 5.5% on an annual basis to $1.03, beating forecasts of 95 cents. Concern about fiscal Q3 has persisted since Disney reported its second quarter about three months ago. As of Wednesday’s close, the stock lost 13.5% in that time frame and was hovering just above breakeven for the year. So per …

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