DIS - Disney's Latest Strategy Looks Like a Slam Dunk for Investors. Is the Stock a Buy?
2024-02-16 08:45:00 ET
Walt Disney (NYSE: DIS) unleashed a whirlwind of news last week. In its fiscal first-quarter earnings report, CEO Bob Iger made it clear that he was back to building mode after spending the first year since his return fixing the business.
The entertainment giant announced a $1.5 billion investment in Epic Games, the maker of Fortnite . It set a date for the launch of its flagship ESPN streaming service for the fall of 2025 and announced a new combined sports streaming service with Fox and Warner Bros. Discovery . And Iger said the Taylor Swift concert movie is coming to Disney+ in March.
The company also raised its newly reinstated dividend by 50%, reaffirmed its goal of turning its streaming business profitable by the September quarter, and said it would meet its goal of $7.5 billion in annualized savings by the end of the year.
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Disney's Latest Strategy Looks Like a Slam Dunk for Investors. Is the Stock a Buy?