Disney Stock Has a Lot to Prove This Week
It's time for the big cheese of media stocks to step up this earnings season. Walt Disney (NYSE: DIS) will roll back the curtain on its fiscal 2023 first-quarter results after the market close on Wednesday. With the shares rallying -- they're up by 32% since bottoming out over the holidays -- a lot is riding on the fresh financials.
There are plenty of moving parts at Disney, and it always draws a lot of attention as a media industry bellwether, but this report will be even more special than usual. Bob Iger returned as CEO in late November, and this will be the first earnings call that he's presided over since early 2020.
Iger won't be held accountable for the actual results. He came back to the top job more than halfway through the fiscal quarter, so he's pitching for the save, not the win. It will be what he says -- and any clarity he offers as to his initial successes in addressing Disney's pressure points -- that will drive market sentiment. Disney stock will be on the move at the opening bell on Thursday, and the direction it takes will be dictated by what takes place during Wednesday afternoon's earnings call.
Source Fool.com
