Advertisement
  • Home
  • Animation
  • 3D
  • VFX & Gaming
  • Contact
No Result
View All Result
  • Home
  • Animation
  • 3D
  • VFX & Gaming
  • Contact
No Result
View All Result
Animation News Hubb
No Result
View All Result
Home Animation

Bob Chapek Has ‘Gotta Be Fired, That’s Pretty Cut And Dried,’ Says CNBC’s Jim Cramer Following Brutal Q4 Earnings Call

admin by admin
November 14, 2022
in Animation


Using the NFL as a metaphor, Cramer explained that if a football team had a negative run like the one Disney is currently experiencing, they wouldn’t hesitate to let the coach go and that the Disney board should be similarly fearless in dropping their leader.

I had faith, but there is just no doubt that he has to go. That [the earning call] was just unconscionable. And the quarter itself, the way he handled it… he made it sound like it was just a four-star quarter. Delusional.

Following Wednesday’s call, Walt Disney Company stock tumbled to a two-year low. At the end of the day, Disney’s stock closed at $86.75 per share. It’s the lowest closing price for Disney shares since March 23, 2020.

The drop is based largely on a weak forecast for the coming year. Disney is projecting growth in the high-single digits, while Wall Street’s consensus was previously 25% growth. “Rarely have we ever been so incorrect in our forecasting of Disney profits,” wrote analyst Michael Nathanson.

One of the most damning figures to come from the earnings call was a $1.47 billion loss for Disney’s streaming division, over $800 million more than the year-earlier period. While Disney added over 12.1 million new accounts to Disney+ (164.2 million total), the company doesn’t project reaching profitability on streaming until 2024, and some analysts say even that date is too optimistic.

While Cramer was unequivocal in his assertion that Chapek needs to go, the fact is that he’s a celebrity financial analyst and has no real sway over what happens at Disney. For now, at least, it looks like Chapek still has the backing of the Disney board, which gave him a three-year contract extension in June.



Source link

Previous Post

Nodevember 2022 Highlights: Week 1 – High Above and Deep Below

Next Post

Jeff Malmberg Dives Down the Mouse Hole for ‘Mickey: The Story of a Mouse’

Next Post

Jeff Malmberg Dives Down the Mouse Hole for 'Mickey: The Story of a Mouse'

Leave Comment

Popular News

Married at First Sight Australia Season 10 Episode 25: Release Date & Streaming Guide

by admin
April 2, 2023

Married at First Sight Australia Season 10 Episode 25 release date is what fans are curious to know more...

Showrunner Jay Oliva on Expanding a Video Game Fantasy in ‘RAID: Call of the Arbiter’

by admin
April 2, 2023

Recently, billion-dollar fantasy RPG strategy title RAID: Shadow Legends unveiled an expanded, animated universe which was about to unfold...

Belgian Animation Master Raoul Servais, Director Of Palme d’Or Winner ‘Harpya,’ Dies At 94

by admin
April 2, 2023

Following the end of World War II, Servais enrolled into the fine art program at Royal Academy of Fine...

Geometry Nodes Weekly Highlights: 2023, Week 13

by admin
April 1, 2023

Here are this week's Geometry Nodes highlights from all over the internet. Make sure to tag your creations with...

© Animation News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Animation
  • 3D
  • VFX & Gaming
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Animation
  • 3D
  • VFX & Gaming
  • Contact

© 2022 Animation News Hubb All rights reserved.