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Disney Trades Higher On Q4 Earnings Beat; Iger Announces Distribution Deal With Amazon

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Disney Trades Higher On Q4 Earnings Beat; Iger Announces Distribution Deal With Amazon

Walt Disney Co (NYSE: DIS) posted fourth-quarter earnings of $1.07 per share Thursday, beating the consensus estimate of 95 cents.

Sales were $19.1 billion, missing the consensus estimate of $19.19 billion. This is a 33.5% increase over sales of $14.307 billion the same period last year.

In a CNBC interview immediately following the closing bell, Chairman and CEO Bob Iger said The Mouse has struck a distribution deal for its Disney+ streaming service with Amazon.com, Inc. (NASDAQ: AMZN). The service will be carried by Amazon's Fire TV.

In Thursday's press release, Iger described the fourth-quarter print as "solid" and said it reflects ongoing strength in the company's brands and businesses.

"We've spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience, and we're excited for the launch of Disney+ on November 12."

In addition to the rollout of Disney+, the company acquired Twenty-First Century Fox in 2019, and a controlling interest in Hulu as part of that deal.

Disney's stock was trading higher by 4% to $138.16 in Thursday's after-hours session.

Related Links:

Option Traders Make Big Bets On Disney Ahead Of Earnings, Streaming Launch

Mark Tepper: Disney's Q4 Report Is A 'Non-Event'

Photo courtesy of Disney.

Posted-In: Bob Iger CNBC Disney+ HuluEarnings News Top Stories After-Hours Center Best of Benzinga

 

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