Topic: How To Invest

Power Growth Investor Hotline – Friday, November 25, 2022

Article Excerpt

WALT DISNEY CO., $98.87, is still a buy. The entertainment and media conglomerate (symbol DIS on New York) is also the world’s largest theme-park operator. Disney has replaced its chief executive Bob Chapek with Robert Iger, the company’s former chairman and CEO who left the company at the end of last year. Iger now plans to serve as CEO for two years. The surprise change comes at a difficult time for Disney. The company reported weaker-than-expected results in the quarter ended October 1, 2022, weighed down by a $1.47 billion loss in its streaming service. That’s in contrast to the momentum built up over a strong year that saw record revenue and profits in multiple divisions, especially the one that includes theme parks. Disney’s theme-park business has recovered strongly since the coronavirus pandemic shut down its venues across the world, but that division continues to subsidize expanding losses in the streaming video business. The appointment of the new CEO comes after the company recently…