We've been through this before with Wall Street and their concern for ESPN's loss of subs... which turned out to be such a no big deal that when D+ was announced, Wall Street was all very happy for Disney forgetting all about ESPN and bumping up their stock.
Then a quarter... just one quarter, that things didn't grow as fast (there was no backsliding) as was "predicted," then Wall Street is dumping on Disney.
Mind you, these investors who just boosted Disney this Spring and are now dumping Disney this Fall are speculators trying to "beat the market" with crazy amounts of buying and selling in ever shorter intervals of microseconds. If all investors agreed with them, Disney's stock would drop to nothing.
In that same article bemoaning Disney's shortfalls, it says....
- The company's Studio Entertainment segment reported revenues of $3.8 billion during the quarter, representing a 33% increase from the same period one year ago.
- Disney's Media Networks unit reported revenue of $6.7 billion, which is a 21% rise from the same quarter one year earlier.
- The company's Parks unit posted revenue of $6.6 billion during the quarter, marking a 7% rise from the third quarter of 2018.
It then goes on to mention the greater expenses and drag that streaming has had, which was as expected. Iger's been saying as much in the quarterly calls for a year. How this was unexpected by Wall Street is the great mystery here.
Hey, Wall Street speculators: Disney will have losses in streaming for year and be sinking the equivalent of some nations' GDP in capital improvement rather than buying back stock. So, sell off your Disney stock now and stop whining. In 2022 when there are record profits, you can come back and create a speculative bubble.