Disney Reports after the Close

Disney (DIS) is set to report earnings after today’s closing bell. In addition to being a Dow component, Disney is an important media conglomerate:

Disney is set to report its quarterly earnings Tuesday after the closing bell, and one portfolio manager said it could have far-reaching implications for the market given the media giant’s many different properties both in the U.S. and abroad.

“This is kind of a bellwether for so much of the U.S. economy,” said Eddy Elfenbein, portfolio manager at AdvisorShares, referring to Disney’s vast array of assets, which include broadcast, cable, movies and theme parks. “But what I’m going to be looking for is in their cable subsidiaries, [such as] ESPN,” Elfenbein said Monday on CNBC’s “Trading Nation.”

ESPN has traditionally proved quite profitable for Disney, Elfenbein said, but has not fared well recently.

“They’ve been bleeding subscribers recently, and that’s caused a lot of attention from Wall Street. So, I want to see how those numbers are, and how the ESPN business is shaking out,” he said.

Posted by on August 8th, 2017 at 1:02 pm

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