Walt Disney and Netflix are divorcing. The animation giant has announced the launch of its own streaming platform in 2019 with exclusive access to new films. The distribution agreement with Netflix will thus end from the same date (yesterday -3,7% on Wall Street), which will therefore no longer have Disney films in its catalogue.
Not only. On Tuesday, after markets were closed, Walt Disney also announced that it has reached a majority stake in BAMTech, a group specializing in video technology created by Major League Baseball. The 42% acquisition announced yesterday, costing 1,58 billion dollars, adds up to the 33% stake paid one billion at the end of 2016.
As for the accounts, the group closed the third quarter in a row with earnings above the estimates but disappointing revenues. If the theme parks continue to do well, the performance of the cable TV division, of which the ESPN sports channel is a part, was once again unconvincing.
In the three months ended July 2,37, Walt Disney reported profits down to $2,6 billion from $2 billion in the same period a year earlier. Excluding exceptional items, earnings per share fell 1,58% to $1,55, beating market estimates of $XNUMX per share.
In the same period, Walt Disney achieved a turnover of 14,24 billion, against 14,28 billion in the previous year and against expectations of 14,42 billion. While awaiting the quarterly report, which arrived with US markets closed, the stock had gained 0,59% to 106,98 dollars. However, it lost 3,95% after the market.
