Disney Stock Has a Lot to Prove This Week
There's a storm brewing at Walt Disney (NYSE: DIS). Some of its recent theatrical releases have disappointed at the box office. Cord-cutting and ad market weakness are weighing on its media networks business. Losses continue at Disney+, and now subscriber growth has stalled. Even its iconic theme parks are reportedly experiencing a lull.
Wall Street isn't impressed. The shares have been flat in 2023, a year that finds most consumer-facing stocks moving higher. Disney stock has shed more than half of its value since peaking in early 2021.
The media giant has a chance to break out of its current rut when it reports its fiscal third-quarter results shortly after Wednesday's market close. The bar is set low when it comes to expectations. It will also be CEO Bob Iger's first earnings call since Disney's board extended his contract through 2026, giving him another two years in the sandbox to help turn things around.
Source Fool.com
