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Disney's Bob Iger says the company has turned a corner, sending the stock higher

·1 min

Disney’s CEO Bob Iger stated that the company is on the path to success again. Despite facing challenges, Disney surprised investors by announcing a projected 20% growth in earnings per share for the year, surpassing analysts’ estimates. Disney reported a 49% increase in earnings per share for the first fiscal quarter. However, the company’s revenue of $23.5 billion was in line with the previous year and missed Wall Street expectations. Disney is still working to make its streaming service profitable but has narrowed its operating losses. The company plans to launch a standalone ESPN streaming service in 2025.