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Shares of the Walt Disney Co. gained 5% in after-hours trading Thursday after it reported quarterly results roughly in line with Wall Street analysts’ estimates — days before its much-anticipated streaming service begins.
Analysts polled by FactSet had expected Disney to report adjusted fiscal fourth-quarter earnings of 94 cents a share on sales of $19.2 billion.
The company’s $6.99-per-month streaming service, Disney+, is scheduled to launch next week, featuring content from Marvel, Pixar, “Star Wars,” National Geographic and more.
“They are connecting all Disney assets to Disney+, which is a good move to drive subscriptions and a significant investment in giving the service a fast start.”
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