A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park in Anaheim, California, U.S., on Friday, April 30, 2021.
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Disney reported second quarter earnings after the bell on Thursday and despite some disappointing metrics, Wall Street is still bullish on the stock.
The media giant missed revenue and streaming subscriber estimates, but topped forecasts for profit.
Disney’s results left the stock down 4% in premarket trading; however, many on Wall Street said now is a good time to buy the dip in the stock.
Disney earned 79 cents per share, well above the 27 cents per share expected by Wall Street, according to Refinitiv. The company made $15.61 billion in revenue, missing estimates of $15.87 billion.
The company missed on subscriber estimates for Disney+, coming in at 103.6 million paid subscribers. It was expected to post 109 million, according to FactSet. This print fell below the pace required to reach Disney’s 2024 goal, but the company reiterated its plans to see between 230 million to 260 million subscribers to Disney+ by 2024.