Disney Sees Share Price Slide After Q1 Earnings
The Walt Disney Co. may have had an increase in revenue and adjusted net income in its fiscal first quarter, but it didn’t translate into a higher stock price.
The Burbank entertainment and media giant saw its share price go down by 2.4% from a close of $113.30 on Feb. 4 to a close of $110.54 on Feb. 5, the day it reported its financial results before the market opened.
The 23.3 million shares that traded on Feb. 5 made for the fifth highest trading volume in the past 52-week period.
The stock had fallen to $109.59 by Feb. 13.
Disney reported adjusted net income of $3.3 billion ($1.76 a share) for the quarter ending Dec. 28, compared with adjusted net income of $2.5 billion ($1.22) in the same period of the previous year. Revenue…
