Walt Disney Rose Over 2% in Premarket Trading After Its Cost Cuts Exceeded Targets but Quarterly Revenue Missed Estimate
Tiger Newspress2023-08-10
Walt Disney rose over 2% in premarket trading after its cost cuts exceeded targets but quarterly revenue missed estimate.
It reported revenue of $22.33 billion for the quarter ended July 1, up 4% from a year ago but short of the Wall Street average estimate of $22.5 billion, according to Refinitiv data. It delivered per-share earnings of $1.03, when excluding certain items, beating Wall Street projections of 95 cents a share. It was not immediately clear if the adjusted profit figures were comparably calculated.
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