It was the tech-heavy Nasdaq Composite that was the big earner of the day, surging by 1%, while the S&P 500 advanced by over 0.8%. The Dow Jones Industrial Average closed 0.4% higher, or 150 points. Equities largely rose along with investor confidence following the influx of positive corporate earnings.

Disney shares rose by over 6% after the company reported fiscal first-quarter earnings that beat expectations, with Disney adding that it would be boosting its cash dividend by 50%. On the other end of the spectrum, Snap shares plunged by over 34% after the social media company posted a lower profit forecast for the current quarter than expected.

The post S&P 500 Hits Record, Approaches 5,000 for First Time in History appeared first on theprimarymarket.com.

Revenue for the three months ending March 31 was $21.82 billion; on par with Wall Street’s estimates. The company’s Disney Parks, Experiences, and Products unit soared, while the Disney+ streaming platform was able to reduce its losses from the previous quarter.

157.8 million new Disney+ subscribers were added in the first quarter, falling short of an estimated 163.1 million subscribers. While the company’s streaming losses were $1.1 billion in Q1, this is a significant decline from the $1.4 billion losses incurred in Q4 of 2022.

Disney Parks, Experiences, and Products was the strongest performer for the quarter, generating a revenue of $7.78 billion compared to an estimated $7.67 billion.

“We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” CEO Bob Iger stated in the earnings release. “From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers, while establishing a more efficient, coordinated, and streamlined approach to our operations.”

Shares in the company dipped by 2% following the earnings release.

The post Disney Quarterly Earnings Miss Estimates appeared first on theprimarymarket.com.

It was the tech-heavy Nasdaq Composite that was the big earner of the day, surging by 1%, while the S&P 500 advanced by over 0.8%. The Dow Jones Industrial Average closed 0.4% higher, or 150 points. Equities largely rose along with investor confidence following the influx of positive corporate earnings.

Disney shares rose by over 6% after the company reported fiscal first-quarter earnings that beat expectations, with Disney adding that it would be boosting its cash dividend by 50%. On the other end of the spectrum, Snap shares plunged by over 34% after the social media company posted a lower profit forecast for the current quarter than expected.

The post S&P 500 Hits Record, Approaches 5,000 for First Time in History appeared first on theprimarymarket.com.

Revenue for the three months ending March 31 was $21.82 billion; on par with Wall Street’s estimates. The company’s Disney Parks, Experiences, and Products unit soared, while the Disney+ streaming platform was able to reduce its losses from the previous quarter.

157.8 million new Disney+ subscribers were added in the first quarter, falling short of an estimated 163.1 million subscribers. While the company’s streaming losses were $1.1 billion in Q1, this is a significant decline from the $1.4 billion losses incurred in Q4 of 2022.

Disney Parks, Experiences, and Products was the strongest performer for the quarter, generating a revenue of $7.78 billion compared to an estimated $7.67 billion.

“We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” CEO Bob Iger stated in the earnings release. “From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers, while establishing a more efficient, coordinated, and streamlined approach to our operations.”

Shares in the company dipped by 2% following the earnings release.

The post Disney Quarterly Earnings Miss Estimates appeared first on theprimarymarket.com.