Here’s Why Disney (DIS) is Up Big in Pre-Market

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On October 22, 2019, we noted:

Shares of Walt Disney (DIS) may be in the dumps the moment. However, given the history of its stock performance ahead of Star Wars’ releases, you may want to keep an eye on it here.

At the time, DIS traded at $130.26.

This morning, the stock is up to $140.83 thanks to earnings.  The company reported EPS of $1.07,  as compared to estimates for 95 cents.  Revenue of $19.1 billion was also better than expectations for $19.04 billion.  This all comes days before the company’s launch of Disney+.

Revenue from the company’s media networks rose to $6.5 billion, up 22% from $5.3 billion a year ago. Revenue from parks and resorts came in at $6.65 billion, up 8% from $6.14 billion a year ago. Disney’s studio entertainment segment brought in $3.3 billion in revenue, up 52% from $2.2 billion last year, thanks to strong box-office numbers, as reported by MarketWatch.

“Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses. We’ve spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience, and we’re excited for the launch of Disney+ on November 12.”

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