Disney Shares Fall Lower After Earnings Report and Aurora Cannabis Shares Fall After Earnings and Cannabis Rally
The Walt Disney Company
Last Friday, shares of The Walt Disney Company closed lower by 1.7%.
The media company’s shares closed lower after the company reported Q1 2021 earnings at the market close on Thursday. The company’s adjusted earnings per share (EPS) was $0.32 vs. -$0.43 as expected. The company also reported revenue of $16.2 billion vs. $15.9 billion as expected.
Disney reported subscriptions to their streaming service, Disney+, reached nearly 95 million subscribers. Last quarter, the company said Disney+ would have up to 260 million subscribers by 2024.
Disney closed parks and resorts last year due to the pandemic and suspended cruise ship sailings. The company has reopened some parks and will continue to reopen in 2021.
Shares of Disney are up over 35% in the past three months.
Last Friday, shares of Canadian cannabis producer Aurora Cannabis plunged, closing lower by 13.75%.
Shares of the cannabis producer closed lower after the company reported weaker than expected Q2 2021 earnings.
Aurora Cannabis reported net revenue of $67.7 million vs. $69.4 million expected an increase of 28% year-over-year. The company also reported strong consumer sales, growing 25%.
It is worth nothing Aurora Cannabis sold less recreational weed in the reported quarter than in any quarter since Canada legalized cannabis in October 2018.
Shares of Aurora Cannabis are up over 75% in the past three months.
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.