Company News: Disney (DIS) posts mixed Q3 financials; announces launch of its own streaming service

Market news

9 August 2017

Company News: Disney (DIS) posts mixed Q3 financials; announces launch of its own streaming service

Disney (DIS) reported Q3 FY 2017 earnings of $1.58 per share (versus $1.62 in Q3 FY 2016), beating analysts' consensus estimate of $1.55.

The company's quarterly revenues amounted to $14.238 bln (-0.3% y/y), missing analysts' consensus estimate of $14.439 bln.

Disney (DIS) also announced plans to end its partnership with Netflix in 2019 and to acquire a majority stake in BAMTech, a streaming technology provider, as it intends to launch its own streaming services.

DIS fell to $102.65 (-4.05%) in pre-market trading.

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