Disney Plus Blows Past Expectations and Cisco Jumped Over 8% On Thursday
Cisco released its earnings report on Thursday afternoon and beat analyst expectations for the fourth quarter even as revenues have declined compared to last year. Shares hopped up like a rabbit in after-hours trading by as much as 9%.
On an annualized basis, revenue declined by 9% compared to the year before. Which is in line with the 9% drop they reported last quarter. The company expects to get back on track towards revenue growth next quarter.
For consumers, Disney movies and shows hold a very special place in our hearts with their imaginative and fantastical stories. Disney launched its streaming service Disney+ 12 months ago. Disney had an initial goal to reach 60 million to 90 million subscriptions by 2024.
The service absolutely blew past expectations and fell into the range of subscriptions expected for 2024. Netflix for example has a total of 195 million subscribers. For one year in the streaming business, it goes to show what great content and brands can do for you.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.