Dow Jones and S&P on track for another record close. Disney earnings ahead.


Higher closes for the Dow and S&P will signal another record close for each

Yesterday, the Dow Jones industrial average and the S&P index both closed at record levels. Any close higher today will be yet another record close.. The Dow Jones is trading above and below unchanged. The S&P at index is comfortably higher by 12.05 points or 0.27%.

The NASDAQ index is on pace to break its two day losing streak. It is leading the way today with a 0.35% gain at the moment.

After the close Disney will report earnings with expectations for:

  • revenues of $16.8 billion versus $11.78 billion a year ago
  • adjusted earnings-per-share are expected at $0.55 versus eight cents last year

The entertainment conglomerate is expected to return to revenue growth for the first time in five quarters.

Focus will be on Disney+.  The last quarter the entertainment channel posted its weakest quarter for user growth since its debut with new subscribers rising by 8.7 million.  The total number of subscribers broke 100 million in less than 2 years largely with the help of the pandemic.  For this quarters analysts are expecting 8.2 million users bringing the total to 112.8 million.

Disney+ was not alone with seeing declines in subscriber growth. Netflix reported just 1.5 million new members in the second quarter (vs +10M a year ago).  Netflix has 209.2 million subscribers as a guide and comparison to Disney.



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