Fast Money Blog- 8/13/21
The big story this week was the Q3 2021 earning results from The Walt Disney Company (DIS). On Thursday, August 12th, the company reported top-line revenue for the quarter of $17.02 billion, up 45% year over year.
Even more positive was the fact that as of July 3rd, Disney Plus subscribers grew to 116 million, more than double from the previous year. This means that Disney Plus added 12.4 million new members since last quarter (which ended on March 3rd).
Across Disney’s direct-to-consumer business, which includes Disney Plus, ESPN+ and Hulu, revenues grew 57% to $4.3 billion.
Additionally, Disney Parks, Experiences and Products revenues for the quarter increased to $4.3 billion, up more than 100% year over year, posting its first profits since Covid began.
Disney is a stock that makes a great long-term hold. If you are a Disney shareholder you need to be smart and patient. 5 years ago Dow Jones component DIS was trading at $96 a share. As of Friday, August 13th, Disney's inter-day high was $187 a share. This means that a $96,000 investment 5 years ago is now worth $187,000 today.
Just a reminder the Wealthy Investor program is equally about monthly residual income and long-term wealth.
Stay Open! Stay Positive!
Tyrone Jackson
The Wealthy Investor