Disney delivered a strong batch of financial results for its fourth quarter, with diluted earnings per share of $1.07 beating Wall Street analysts’ consensus forecast of 95 cents. Total reven…
initiatives, reported a massive spike in revenue, from $800 million to $3.4 billion and a wider segment operating loss, to $740 million from $340 million in the year-earlier period. The consolidation of Hulu, of which Disney announced in May it was taking operational control, was the reason behind the large swing.
Disney closed its $71.3 billion acquisition of 21st Century Fox assets, including its 30% Hulu stake, on March 20. Investors have expressed optimism about Disney’s prospects in streaming, given that it controls Marvel, Pixar and Lucasfilm as well as its own pedigreed film and TV library. The company’s stock closed at $133.13 on Thursday, up more than 1%. It has gainedIt’s a momentous quarter for Disney as the company prepares for its biggest “opening” in the 21st century: the launch of Disney+ on November 12.
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