Disney’s Business Still Under Pressure – Though Not Collapsing
Disney (DIS) after the close today reported a quarter that shows their business under pressure but not collapsing. Overall revenue was down 7% from the year ago period including 2% at their media networks and 9% at parks and resorts. Operating income was off 20% including 13% at media networks and 19% at parks and resorts. This shows a tough environment for advertising spending and tourism at its theme parks and related hotels.
Shares are off a bit in the afterhours.
Disclosure: Top Gun has no position in Disney (DIS) shares.