Disney Stock Lower as Q1 Revenue Misses Expectations

Shares in Disney were in the red on Tuesday, after the company reported worse-than-expected quarterly earnings.

Disney confirmed that revenue for the first quarter came in at $22.08 billion versus an expected sum of $22.11 billion.

This came on earnings of $1.21 per share, which outperformed the anticipated sum of  $1.10 per share.

Following the data CEO Bob Iger said, “Our results were driven in large part by our Experiences segment as well as our streaming business.”

The stock fell by as much as 10% in today’s session.

Crude Oil Hits 2-Month Low

The price of crude oil fell to its lowest level since March after a ceasefire proposal by Egypt and Qatar was accepted by Hamas.

Volatility returned after Israel rejected this offer, with prices once again moving towards the $80 per barrel level.

Additionally, British oil giant BP reported a drop in profits for the first quarter of the year. 

The company reported profits of $2.7 billion, which was down from $3 billion the previous quarter and less than the $2.9 billion markets were expecting.

Disney Stock Lower as Q1 Revenue Misses Expectations

Shares in Disney were in the red on Tuesday, after the company reported worse-than-expected quarterly earnings.

Disney confirmed that revenue for the first quarter came in at $22.08 billion versus an expected sum of $22.11 billion.

This came on earnings of $1.21 per share, which outperformed the anticipated sum of  $1.10 per share.

Following the data CEO Bob Iger said, “Our results were driven in large part by our Experiences segment as well as our streaming business.”

The stock fell by as much as 10% in today’s session.

Crude Oil Hits 2-Month Low

The price of crude oil fell to its lowest level since March after a ceasefire proposal by Egypt and Qatar was accepted by Hamas.

Volatility returned after Israel rejected this offer, with prices once again moving towards the $80 per barrel level.

Additionally, British oil giant BP reported a drop in profits for the first quarter of the year. 

The company reported profits of $2.7 billion, which was down from $3 billion the previous quarter and less than the $2.9 billion markets were expecting.

One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.

William Feather