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The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Disney (NYSE:DIS) and the rest of the media stocks fared in Q3.
The advent of the internet changed how shows, films, music, and overall information flow. As a result, many media companies now face secular headwinds as attention shifts online. Some have made concerted efforts to adapt by introducing digital subscriptions, podcasts, and streaming platforms. Time will tell if their strategies succeed and which companies will emerge as the long-term winners.
The 9 media stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.
Luckily, media stocks have performed well with share prices up 14.6% on average since the latest earnings results.
Disney (NYSE:DIS)
Founded by brothers Walt and Roy, Disney (NYSE:DIS) is a multinational entertainment conglomerate, renowned for its theme parks, movies, television networks, and merchandise.
Disney reported revenues of $22.57 billion, up 6.3% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with a solid beat of analysts’ adjusted operating income estimates but a miss of analysts’ Entertainment revenue estimates.
“This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company.
The stock is up 11% since reporting and currently trades at $113.94.
Is now the time to buy Disney? Access our full analysis of the earnings results here, it’s free.
Best Q3: fuboTV (NYSE:FUBO)
Originally launched as a soccer streaming platform, fuboTV (NYSE:FUBO) is a video streaming service specializing in live sports, news, and entertainment content.
fuboTV reported revenues of $386.2 million, up 20.3% year on year, outperforming analysts’ expectations by 2.7%. The business had a very strong quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
The market seems happy with the results as the stock is up 138% since reporting. It currently trades at $4.14.
Is now the time to buy fuboTV? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Endeavor (NYSE:EDR)
Owner of the UFC, WWE, and a client roster including Christian Bale, Endeavor (NYSE:EDR) is a diversified global entertainment, sports, and content company known for its talent representation and involvement in the entertainment industry.