Disney report to shine spotlight on streaming war

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Quarterly reports next week from Walt Disney Co , CBS and Viacom will likely highlight increasing competition in video streaming and could spark volatility in the so-called communication services sector, which has outperformed since it was overhauled last year.

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SAN FRANCISCO (Reuters) – Quarterly reports next week from Walt Disney Co (DIS.N

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 2, 2019. REUTERS/Brendan McDermid

CBS and Viacom have both gained about 15% in 2019.

Helped by its $71 billion acquisition of 21st Century Fox’s assets, Disney is expected by analysts to report a 41% jump in fiscal third-quarter revenue to $21.5 billion, according to Refinitiv data. Analysts on average expect earnings per share of $1.75. Disney’s EPS has met or exceeded consensus estimates in six of the past eight quarters.

“My guess is the company will want to focus on content and investors will want to hear more about the streaming strategy,” Ablin said.

Reporting by Noel Randewich; Editing by Alden Bentley, Tom Brown and Leslie Adler


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Author:

Quarterly reports next week from Walt Disney Co , CBS and Viacom will likely highlight increasing competition in video streaming and could spark volatility in the so-called communication services sector, which has outperformed since it was overhauled last year.

Source: {authorlink}

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