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Why Disney Shares Are Rising Following Netflix's Earnings Report

Published 19/10/2022, 15:00
Why Disney Shares Are Rising Following Netflix's Earnings Report
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Notable names in the streaming and entertainment sector, including Walt Disney Co (NYSE: NYSE:DIS), are trading higher in sympathy with Netflix Inc (NASDAQ: NASDAQ:NFLX) Wednesday morning after the company reported better-than-expected third-quarter results and reported global streaming paid net additions of 2.41 million. Global streaming paid memberships grew 4.5% year over year.

What Happened?

Netflix reported third-quarter revenue of $7.93 billion, up 5.9% year-over-year. The total came in ahead of a Street estimate of $7.84 billion, according to data from Benzinga Pro.

The company posted third-quarter earnings per share of $3.10, beating a Street estimate of $2.13...Read More

Disney is trading higher by 1.17% at $99.58 Wednesday morning.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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