Loeb laid out the usual kudos to management for their performance in various areas - but the mailed fist in the velvet glove that is the usually most accurate characterization of such letters was there for anyone to see. Loeb respectfully talked about consolidating Disney’s streaming verticals and speeding up of the company conversion of verticals to digital distribution growth trends overtaking the entire content business. Disney responded with the understandable, thanks but no thank kind of letter with the usual “hammada, hammada, hammada” “we’re working on that already” responses.
While acknowledging the good performance, Loeb sent a Hart Scott Rodino letter to Disney CEO Chapek outlining five ideas to unlock significant shareholder value. The mouse house comes through again! But not everyone, we quickly learn, has picked up the pop poms.Įnter activist Dan Loeb’s Third Point indicating it had loaded up on the stock to the estimated level of $1b, with more to come we presume. Overall, it's fair to state that Disney’s earnings call moved the shares to $124.6 (from $112 on August 10 th) in a 52-week range, from $90.29 to $187.58. Not to worry, Disney has a new price tier for Disney+ which offers consumers a $7.99 monthly fee for ad-supported viewing or $10.99 for ad-free subscriptions. Gross profit of $7.82b produced operating income of $2.43b a decrease of 11.6% yoy of $2.75b. And overall operating margins on the services fell 6.8% to -18.1% - management attributed this to increased cost of content and programming. Hulu and ESPN were decidedly less robust. Streaming services, passed the 221m mark for all platforms (up 7.5%), clocking a 144m increase for Disney+ for the quarter. To shorthand the results, we see this: Theme parks did great - undoubtedly benefitting from pent-up demand. And to an extent, it was vindication well worth the twirling.
MOUSE HOUSE CHEESE FULL
The conventional pom pom waving of some The Walt Disney Company’s ( NYSE: DIS) fortress investors, who rarely see any long-term palpable rationale to support a bearish outlook on the stock, blossomed full force on the 3Q22 earnings release. “Balance every thought with its opposition, because the marriage of them is the destruction of illusion…”
If you need anything contact us.Above: Disney is still living off its genius founder's mind, his Pixar descendants and lots of superhero content created by comic artists in the '30s to '50s. More than anything, we want to be piggin’ happy with your purchase. We would also advise that you get familiar with our firm but fair policy on returns and refunds. If you require separate parcels for multiple bundles you will need to make another separate order. So if you order multiple bundles and other products in one order, it will most likely come in one parcel.
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