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Disney shares skyrocket on earnings

Video Credit: Reuters Studio - Duration: 00:52s - Published < > Embed
Disney shares skyrocket on earnings

Disney shares skyrocket on earnings

Walt Disney stock shot up one day after company's quaterly results beat estimates on increased theme parks attendance and ticket sales for "Ant-Man and the Wasp" movie.

Roselle Chen reports.

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Disney shares skyrocket on earnings

Disney shares shot up one day after the company beat Wall Street's estimates for quarterly results.

The beat came from Disney's theme parks and Marvel's movie "Ant-Man and the Wasp." Disney's plans also helped the stock.

They included a new "Star Wars" video series for its new streaming service Disney+ launching late next year.

Investing.com senior analyst Haris Anwar said Disney+ could lift the company's stock even further if it can challenge Netflix and Amazon's Prime Video.

To boost its chances to do just that, Disney is negotiating a $71 billion deal with Twenty-First Century Fox to buy its film and television assets.

These assets include Hulu, an on-demand and live TV service.

Disney will own 60 percent of it after the Fox purchase In an interview with CNBC, Disney CEO Bob Iger said Disney is interested in buying the remaining stakes from Comcast and AT&T if they were willing to sell.




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