Disney just had its worst day in a year and a half

CNN Business05-08

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN — Disney managed a ...

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To get it in your inbox, sign up for free, here.\n\n\n\nNew York\nCNN\n         — \n    \n\n\n            Disney managed a ...</p>\n\n<a href=\"https://edition.cnn.com/2024/05/07/investing/disney-stock-earnings/index.html\">Source Link</a>\n\n</div>\n","source":"cnn_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Disney just had its worst day in a year and a half</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDisney just had its worst day in a year and a half\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-08 05:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2024/05/07/investing/disney-stock-earnings/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here.\n\n\n\nNew York\nCNN\n         — \n    \n\n\n            Disney managed a ...</p>\n\n<a href=\"https://edition.cnn.com/2024/05/07/investing/disney-stock-earnings/index.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://edition.cnn.com/2024/05/07/investing/disney-stock-earnings/index.html","article_id":"2433755688","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433755688","pubTimestamp":1715118509,"sourceInfo":{"source_id":"cnn_highlight","name":"CNN Business"},"weMediaInfo":null,"summary":"Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats. But Wall Street still wasn’t satisfied, sending shares down more than 9%. It was Disney’s worst stock trading day in 18 months.See here: Disney , fresh off its victory in a bruising  boardroom proxy battle last month, for the first time ever squeezed some profit out of Disney+ and Hulu, to the tune of $47 million. But Disney’s other streaming property, ESPN+, continued to shed subscribers and hemorrhage cash, bringing the combined streaming loss to $18 million.That’s a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago.Wall Street is always looking ahead to future growth, of course, so it was the projected slowdown next quarter that had investors in a tizzy.Of course, “getting to profitability is one thing,” Verna added. “Sustaining it is another.”","collect":0,"end_time":0,"defaultTopTitle":"cnn.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4550":"红杉资本持仓","LU1046421795.USD":"富达环球科技A-ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","BK4527":"明星科技股","BK4551":"寇图资本持仓","NFLX":"奈飞","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","BK4561":"索罗斯持仓","BK4581":"高盛持仓","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4548":"巴美列捷福持仓","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","DIS":"迪士尼","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","SG9999015978.USD":"利安颠覆性创新基金A","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4554":"元宇宙及AR概念","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4532":"文艺复兴科技持仓","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","BK4108":"电影和娱乐","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","BK4566":"资本集团","BK4587":"ChatGPT概念","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4524":"宅经济概念","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H"},"translate_title":"迪士尼刚刚经历了一年半以来最糟糕的一天","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DIS":1,"NFLX":0.84},"content_text":"Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here.\n\n\n\nNew York\nCNN\n         — \n    \n\n\n            Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats. But Wall Street still wasn’t satisfied, sending shares down more than 9%. It was Disney’s worst stock trading day in 18 months.\n    \n\nSee here: Disney (DIS), fresh off its victory in a bruising (and stupidly expensive) boardroom proxy battle last month, for the first time ever squeezed some profit out of Disney+ and Hulu, to the tune of $47 million. But Disney’s other streaming property, ESPN+, continued to shed subscribers and hemorrhage cash, bringing the combined streaming loss to $18 million.\n    \n\n            That’s a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago.\n\n\n            Wall Street is always looking ahead to future growth, of course, so it was the projected slowdown next quarter that had investors in a tizzy.\n    \n\n            “In my view, they delivered some pretty good results,” Paul Verna, a principal analyst at eMarketer, told me. “What the Street seems to be reacting to is the guidance for some softness in entertainment streaming next quarter.”\n    \n\n            Disney said it still expects for the combined streaming business to achieve profitability by the end of its fiscal year, in September.\n    \n\n            Of course, “getting to profitability is one thing,” Verna added. “Sustaining it is another.”\n    \n\n            Disney is in the middle of an awkward transition that no one could have anticipated a decade ago. Imagine telling CEO Bob Iger in 2014 that one day his company — a dyed-in-wool movie-making, intellectual-property-mastering Hollywood juggernaut — would be doing battle against tech nerds like Apple and Amazon, all in the hopes of catching up with that puny DVD delivery service Netflix.\n    \n\n\n\n\n\n\n\n\nBob Iger at the premiere of \"Feud: Capote vs. The Swans\" held at MOMA on January 23, 2024 in New York City. (Photo by John Nacion/Variety via Getty Images)\n\nJohn Nacion/Variety/Getty Images\n\n\n\n\nRelated article\nHow Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades\n\n\n\n            But that is, more or less, what’s happening.\n    \n\n            Streaming is new(ish) and very different beast from the traditional cable TV model Disney and other media giants like Paramount, Viacom and Warner Bros. Discover (CNN’s parent company) have relied on for decades to pad profit margins.\n    \n\n            But years of cord-cutting mean the gravy train of cable is going away, and companies like Disney are having to figure out how to keep making good TV and movies while also locking in streaming audiences before Netflix eats their lunch.\n    \n\n            “It is a very tough business,” Verna said. “The profit margins are lower … maybe it’s psychological, but it’s almost like these companies that have built entire businesses on the cable model — it’s very hard for them to let that go and accept that the future is going to look different for them.”\n    \n\n            For Disney, in particular, streaming is just one headache among many. It’s had a run of box-office flops (“The Marvels,” “Indiana Jones and the Dial of Destiny,” “Haunted Mansion). Iger has been trying to execute an ambitious turnaround strategy — which led to thousands of layoffs and costly merger of its India operations — while fending off activist investors in a shareholder drama worthy of its own eight-episode TV series. And in the middle of all that, Iger, who is 73, is in theory lining up a successor to take the helm when his contract expires in two years.\n    \n\n            Tuesday’s market reaction shows that Wall Street has “more questions than answers for earnings over the next couple of quarters,” said Brian Mulberry, a portfolio manager at Zacks Investment Management, in a note. “While it is a relief, I am sure, to have the battle over board seats behind them, it now creates more focus on results.”","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433755688"}