DIS - 3 Reasons Disney Stock Is Up 12.7% Today
2024-02-08 13:01:04 ET
Walt Disney (NYSE: DIS) reported fiscal first-quarter 2024 financial results for the period ended Dec. 30, 2023, after the market closed on Wednesday and investors liked what they saw. Shares were up 12.7% in early trading on Thursday and are still up 11.8% at noon E.T.
Three factors drove the media stock higher and they set the company up for even more long-term success.
The first reason Disney stock is up is quarterly results. Revenue was flat versus a year ago at $23.55 billion but earnings of $1.22 per share easily passed the $0.99 that analysts were expecting. Cost-cutting measures have taken hold faster than expected and management said it expects to exceed its goal of $7.5 billion in cost cuts set in 2023.
For further details see:
3 Reasons Disney Stock Is Up 12.7% Today