"Josh D'Amaro appears to be the frontrunner in the race to be Disney's next CEO, and the Mouse House's latest quarterly earnings showed why. Disney's experiences business, which D'Amaro oversees, is the backbone of a company that's being weighed down by the struggling pay-TV business and isn't yet lifted up by its streaming profits. And when that part of the business sneezes, the stock catches a cold."
"Although the unit generated record profits, and Disney overall slightly beat Wall Street estimates on both revenue and earnings, the stock fell about 5% in early trading. Investors seemed worried about Disney's reference to "international visitation headwinds" at its US parks. Another possible factor driving down the stock was Disney's year-over-year decline in earnings per share. Both the record experiences profits and the investor concerns underscore just how important D'Amaro and his fiefdom are to the company."
Josh D'Amaro is the frontrunner to become Disney's next CEO due to his leadership of the parks and experiences division. The experiences unit generated record profits and serves as the company's cash-generating backbone amid a struggling pay-TV business and streaming profits that have not yet offset declines. Disney slightly beat Wall Street revenue and earnings estimates, yet the stock fell about 5% amid concerns over "international visitation headwinds" at US parks and a year-over-year decline in earnings per share. Disney's board of directors is aligning on promoting D'Amaro to replace longtime CEO Bob Iger, who plans to retire later this year. Dana Walden is the other leading contender.
Read at Business Insider
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