The Disney Stock Is One of the Strongest This Week. Find out Why.
Disney (DIS) recorded incredible earnings of $23.5 billion for 2023.
There was a 10.8% increase from the Disney stock Thursday morning after that strong earnings report. The stocks are continuing to rise and are up by 12.8% at the time of this writing.
Before that report was published, Disney stocks were expected to go to $1.01 a share, but they soared past that to a remarkable $1.22 a share. This likely means another banner year for Disney, as they ride high on elevated stocks. The stock is past its year-long high of $111.78 and are currently trading at $111.84, which will help the stock price along even further and make Disney even more viable in the eyes of investors.
Disney’s Upcoming Projects
There are a few big properties and projects that Disney is going to lean into in 2024 and use to potentially springboard to another massively profitable year.
Disney is looking forward to the release of Moana 2 later this year. The first one grossed $680 million at the box office in 2016. The sequel is expected to do even better.
The company is also counting on its partnership with Taylor Swift to pay off in dividends. Starting March 15th, Swift’s Eras musical tour will kick off exclusively on the Disney Plus platform. Swift is already riding waves of publicity for the new tour and her new relationship with NFL star Travis Kelce.
Disney is also raking in billions from its streaming service Disney Plus and plans to add tons of new content throughout the year, including a few Marvel projects like the long awaited X-Men ’97 animated series revival. The subscription service earned Disney $6.16 billion in 2023 alone.
As we reported earlier today, much of the stock market is doing little business today, staying mostly flat, but a few big performers like Disney are making headlines with their better than expected stock prices.
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