Why Disney Stock Rallied Thursday Morning
Shares of Walt Disney (NYSE: DIS) ran higher on Thursday, surging as much as 5.7%. As of 10:38 a.m. ET, the stock was still up 2.6%.
The catalyst that caused the media giant's stock to rally was better-than-expected financial results, coupled with a well-received turnaround strategy.
Disney reported revenue that grew 8% to $23.5 billion, fueled by a robust performance from the company's theme parks, experiences, and products segment. Excluding certain items, diluted earnings per share (EPS) declined 7% to $0.99.
Source Fool.com
