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Disney just had its worst day in a year and a half [CNN]
Last netflix, inc. earnings: 4/21 04:00 pm
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US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
CNN — Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats. But Wall Street still wasn't satisfied, sending shares down more than 9%. It was Disney's worst stock trading day in 18 months. See here: Disney ( DIS ), fresh off its victory in a bruising (and stupidly expensive) boardroom proxy battle last month, for the first time ever squeezed some profit out of Disney+ and Hulu, to the tune of $47 million. But Disney's other streaming property, ESPN+, continued to shed subscribers and hemorrhage cash, bringing the combined streaming loss to $18 million. That's a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago. Wall Street is always looking ahead to future growth, of course, so it was the projected slowdown next quarter that had investors in a tizzy. “In my view, they delivered some pretty good results,” Paul
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