SHAREHOLDER ALERT: Pomerantz Law Firm Investigates ClaimsOn Behalf of Investors of The Walt Disney Company - DIS

On this news, Disney's stock price fell $12.34 per share, or more than 7%, to close at $162.11 per share on November 11, 2021. 

Finally, on November 8, 2022, Disney issued a press release reporting the Company's financial results for its fourth quarter and fiscal year ended October 1, 2022.  Disney missed analyst estimates by wide margins on both the top and bottom lines.  Revenue in the quarter grew just 9% to $20.15 billion, below estimates at $21.36 billion.  Sales, at $20.2 billion, fell about $1 billion short of analysts' projections.  Earnings, excluding certain items, fell to 30 cents share, missing the average estimate of 51 cents from analysts surveyed by Bloomberg.  The Company's DTC segment, which includes streaming services Disney+, ESPN+, Hulu, and Hotstar, reported a monumental operating loss of $1.47 billion compared to a $630 million loss in the same quarter the year prior.  Revenue in the segment increased just 8% to $4.9 billion.  The Company also reported a decline in its average revenue per Disney+ subscriber, as more customers subscribed through a discounted bundle with the Company's other services.  Notably, the bundled offering made up about 40% of domestic subscribers, confirming that Disney was relying on short-term promotional efforts to boost subscriber growth while impairing the platform's long-term profitability. 

On this news, Disney's stock price fell $13.15 per share, or more than 13%, to close at $86.75 per share on November 9, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP