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Walt Disney stocks plunged 5.57% after weak data from earning report

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After US markets close, Walt Disney announced its report for the first quarter. Profits per share disappointed, which led to a drop in stock price by 5.37% to $ 100.88.

The company also announced that the number of ESPN subscribers has dropped and the return on advertising also declined.
Revenue rose 4 percent to 13 billion dollars compared with a forecast of 13.2 billion. Earnings per share increased to $ 1.30 compared with a forecast of $ 1.36 per share.

More serious problem for investors is the retirement of longtime director of the company Bob Iger and the step down of Tom Staggs, seeking assurances from the company that he will replace Iger.

Disney are seeking a suitable person for the position, as it is very likely to be a person outside the company.


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