"Iger is famous for building Disney through a series of mergers and acquisitions. These included ABC Television, Pixar Animation Studios, Marvel Entertainment, Lucasfilm, and 21st Century Fox. The deals looked good at the time, but all Iger was doing was creating a legacy media giant, mostly of TV and studios. New and huge streaming services, including Netflix and Amazon Prime Video, flanked Disney's old-world assets."
"When Disney released its most recent earnings, the market hammered the shares, as the numbers missed consensus forecasts. The stock sank 8% the minute the figures were announced. Revenue was about flat at $23.5 billion. What Disney refers to as "segment opening income" decreased 5% to $3.5 billion. Segment operating income is the bottom line of each of its divisions."
Bob Iger built Disney through a series of major acquisitions including ABC, Pixar, Marvel, Lucasfilm, and 21st Century Fox, creating a legacy media giant focused on TV and studios. Disney launched Disney+ in November 2019, a valuable but costly streaming initiative that required billions to build. Recent earnings missed forecasts, with revenue roughly flat at $23.5 billion and segment operating income down 5% to $3.5 billion, prompting an immediate 8% stock drop. Hulu and Disney+ subscribers have reached 196 million. Leadership remains uncertain as Iger’s departure timing is unclear and no successor has been named.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]