5 Media and Internet Stocks to Watch After Latest Earnings

1. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 113

Shares of The Walt Disney Company (NYSE:DIS) jumped nearly nine percent in the pre-market trading session on Thursday, August 11, 2022. The surge came after the entertainment giant crushed profit and sales expectations for its fiscal third quarter.

The Walt Disney Company (NYSE:DIS) reported adjusted earnings of $1.09 per share, up from 80 cents per share in the same period of 2021. Analysts were looking for earnings of $1 per share.

Revenue for the quarter increased 26 percent versus last year to $21.5 billion, while analysts expected The Walt Disney Company (NYSE:DIS) to generate revenue of $20.5 billion. If we look at the performance of its flagship units, revenue from the media and entertainment segment rose 11 percent to $14.1 billion, while revenue from the parks, experiences and products segment skyrocketed 70 percent to $7.4 billion in the quarter.

Among other updates, The Walt Disney Company (NYSE:DIS) reported that Disney+ subscriptions increased to 152.1 million in the quarter, beating analysts’ average estimate of 147 million.

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