Why Disney Stock Popped Thursday Morning
Shares of Walt Disney (NYSE: DIS) took flight Thursday morning, jumping as much as 11.8%. As of 11:59 a.m. ET, the stock was still up 6.7%.
The catalyst that sent the media company higher was its quarterly financial results, which contained a few happy surprises for investors.
For its fiscal 2024 fourth quarter (ended Sep. 28), the company reported revenue that climbed 6% year over year to $22.6 billion. However, it was the bottom-line results that brought the magic, as the company's cost-cutting measures are bearing fruit and boosting profitability. Adjusted earnings per share (EPS) of $1.14 surged 39%.
Source Fool.com
