First reactions to Disney earnings
So why is this down premarket? I think there are technical reasons, but I can also find a (very) few things that might give folks complaints:
=Content sales revenue not good this Q, no major movies out.
=Impairment charge on some Indian thing and linear networks - this was the reason for the EPS "loss" but the adjusted EPS beat.
=Linear networks and ESPN continue to wither, tho CFO says they are taking costs ouy
=Overall revenue only grew 1%. Could be an algo sales reaction premarket to this.
=Whatever is going to happen with Hulu
Aside from that? Well there's a lot to like. So maybe premarket will reverse, but I mentioned there are technical headwinds possible. Some of the good numbers:
=Cash flow story very good. 6mo YOY FCF up a lot. No going concerns issues here
=Dis+ subscribers grew, revenue up, AND profitability metrics turned from loss to not-quite-profit. A surprise to see the subscriber growth TBH. I need to check ARPU still.
=Parks are doing just fine, per normal.
=Excluding one time goodwill impairment, EPS beat by over 10%