Disney stock, which ran up to an all-time record in advance of Thursday’s quarterly earnings report, has sold off a bit today even as many analysts remain upbeat about the media giant’s prospects.The company exceeded analysts’ expectations with results for its fiscal first quarter, despite a $2.6 billion hit to theme parks due to Covid-19 and a drop in streaming revenue per subscriber.
The growth story of Disney+, which reached 94.9 million global subscribers by the end of the quarter on January 2, is continuing to goose the stock as investors increasing reward it for streaming’s potential.Shares in Disney were at $188.97 midway through the session, down about 1%, on slightly above-average trading volume.
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