The Walt Disney (DIS) earnings call, scheduled for after the close, is likely to prompt more analyst questions about the media titan's upcoming direct-to-consumer streaming service (and Netflix (NFLX) rival). Investors will also be looking for an update on ESPN+, the Mouse's streaming sports service.
XEstimates: Per-share earnings for fiscal Q3 to grow 25% to $1.97 as revenue rises 9% to $15.49 billion, according to Zacks Investment Research.
Results: To be announced. Check back after the close.
Stock: Shares rallied 1% to 117.05 in the stock market today, hitting the highest level since November 2015. You'll recall that the summer of 2015 saw a sector-wide media meltdown after Disney chief Bob Iger disclosed modest subscriber losses at ESPN, prompting concerns about the state of the pay-TV subscriber.)
After initially struggling to stay above a 113.29 entry point, Disney shares ultimately broke out in late July and are now trading in buy territory, climbing higher over the last three sessions.
Disney is reportedly spending tens of millions of dollars on original content for its new streaming platform, which is slated to launch in late 2019 and will feature family-friendly content from Disney, Marvel, Pixar and Lucasfilm.
Iger has previously promised four to five exclusive feature films for the service per year, and the New York Times recently reported that nine films are currently in development or production.
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