Disney's Market Value Jumps $21-Billion
- 4 years ago
Disney stock jumped as much as 10% on Wednesday.
The increase added more than $21 billion to the entertainment giant's market capitalization.
Investors celebrated the news that Disney Plus has attracted more than 60 million subscribers in its first nine months.
Pandemic-related closures of theme parks, stores, and cinemas hammered its business, dropping its revenue 42% last quarter.
Lower revenues and $5 billion in restructuring and impairment charges translated into a $4.5 billion net loss last quarter.
The increase added more than $21 billion to the entertainment giant's market capitalization.
Investors celebrated the news that Disney Plus has attracted more than 60 million subscribers in its first nine months.
Pandemic-related closures of theme parks, stores, and cinemas hammered its business, dropping its revenue 42% last quarter.
Lower revenues and $5 billion in restructuring and impairment charges translated into a $4.5 billion net loss last quarter.