Law Offices of Howard G. Smith announces an investigation on behalf of The Walt Disney Company (“Disney” or the “Company”) (NYSE: DIS) investors concerning the Company’s possible violations of federal securities laws.
On November 8, 2022, Disney released its fourth quarter and fiscal year end October 1, 2022 financial results, revealing that the Company had missed analysts’ estimates by wide margins on both the top and bottom lines. Specifically, revenue grew to $20.15 billion, below estimates of $21.36 billion. Sales were $20.2 billion, which was about $1 billion below analysts’ projections. The Company’s DTC segment, which includes streaming services Disney+, ESPN+, Hulu, and Hotstar, reported an operating loss of $1.47 billion. The Company also reported a decline in its average revenue per Disney+ subscriber.
On this news, Disney’s stock price fell $13.15, or 13.2%, to close at $86.75 per share on November 9, 2022, thereby injuring investors.
If you purchased Disney securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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