How Walt Disney Shares Gained 17% in November
Shares of Walt Disney (NYSE: DIS) rose 16.7% in November 2019, according to data from S&P Global Market Intelligence. The gains started with a strong earnings report, followed by an impressive launch of Disney's brand-new video-streaming service.
Disney's fourth-quarter sales grew 34% year over year, landing at $19.1 billion. This boost includes contributions from Twenty-First Century Fox, which the House of Mouse acquired in March 2019. Adjusted earnings fell 28% to $1.07 per diluted share. The analyst consensus had been calling for earnings near $0.95 per share on revenues in the neighborhood of $19.0 billion.
The next week marked the premiere for the Disney+ streaming video service. The launch saw some technical hiccups, but subscribers flocked to the new platform by the millions. Just one day after the launch, Disney+ had amassed more than 10 million accounts. Disney's stock took another big leap on the news.
Source Fool.com
