Wednesday’s Headlines: Disney+ Now Has 26.5 Million Subscribers
1. Disney stock was up nearly 3% on Tuesday before reporting earnings that beat on both top and bottom lines, but didn’t update Disney+ guidance. Earnings per share came in at $1.53 versus $1.44, on top of revenue of $20.86 billion versus $20.79 billion, while Disney+ reported subscriber numbers of 26.5 million. Revenue for Disney’s Parks, Experience and Products segment grew 8% year over year to $7.4 billion during the quarter, while operating income increased 9% to $2.3 billion. Get the full report here.
2. Chipotle Mexican Grill shares rose in the extended session Tuesday after the company reported fourth-quarter earnings. The company reported income of $72.4 million, or $2.55 a share, versus $32 million, or $1.15 a share, in the year-ago period. Chipotle stock has gained 68% in the past year, and expects to open between 150 and 165 new restaurants in 2020. See the complete earnings here.
3. Match Group Inc. gave an upbeat first-quarter revenue forecast Tuesday afternoon, but its earnings outlook came up short, as shares fell 11% after-hours. The company posted net income of $132.2 million, or $0.45 a share, up from $115.5 million, or $0.39 a share, in the year-earlier period. Match’s revenue for the quarter totaled $547 million, up from $457.3 million a year ago but shy of expectations of $553 million, a week after CEO Mandy Ginsberg announced she would be stepping down. Read the full report here.