Join us as we live blog the release of Disney's earnings for their 2017 fiscal year (October - September)

11/9/2017 12:54 PM Pacific Time

With the reports of talks between Disney and 21st Century Fox, expect a lot of questions of if Disney is looking to acquire new assets.

11/9/2017 12:54 PM Pacific Time

Disney stock ended the day up $1.50 (1.48%) to 102.68. They have seen good reaction to reports that Disney is looking to grow ahead of the launch of their streaming service.

11/9/2017 1:01 PM Pacific Time

This is despite the DJIA, which Disney is a part of loosing 101 points today due to reports of tax reform delays.

11/9/2017 1:03 PM Pacific Time

Disney meeses the street with earnings.

11/9/2017 1:06 PM Pacific Time

1.97 per share vs 1.12 expected. Disney getting slammed in after hours trading down 3.48 (3.39% in After Hours trading)

11/9/2017 1:07 PM Pacific Time

Media Networks got hit the hardest (not surprising)

11/9/2017 1:07 PM Pacific Time

Here is the quote from Bob in the earnings release: "“No other entertainment company is better equipped to navigate the ever-evolving media landscape, thanks to our unparalleled collection of brands and franchises and our ability to leverage IP across our entire company. We look forward to launching our first direct-to-consumer streaming service in the new year, and we will continue to invest for the future and take the smart risks required to deliver shareholder value.”

11/9/2017 1:15 PM Pacific Time

Freeform got hit hard in the last quarter with lower viewership and lower ad revenue.

11/9/2017 1:17 PM Pacific Time

Park revenue increased 6% despite impacts of Hurricane Irma

11/9/2017 1:18 PM Pacific Time

Disneyland Paris saw success with the 25th anniversary celebration

11/9/2017 1:19 PM Pacific Time

Studio results got hit with the write-off of the cancelled Gigantic.

11/9/2017 1:20 PM Pacific Time

Disney invested more in the domestic parks this year compared to last year by about 200 million dollars.

11/9/2017 1:22 PM Pacific Time

Now we are getting reports that ESPN will be laying off more than 100 employees.

11/9/2017 1:23 PM Pacific Time

Disney is spending a billion dollars into their parks business

11/9/2017 1:47 PM Pacific Time

ESPN's streaming service will be called ESPN Plus

11/9/2017 1:48 PM Pacific Time

Disney's streaming service will feature original content including a Star Wars live-action series, a Marvel series, a High School Musical series, and a Pixar Monsters Inc. spinoff series

11/9/2017 1:50 PM Pacific Time

Bob talks about the success of Marvel, Pixar, and Star Wars.

11/9/2017 1:51 PM Pacific Time

Rian Johnson, director of Episode VIII, is developing a fourth Star Wars trilogy

11/9/2017 1:52 PM Pacific Time

 

11/9/2017 1:54 PM Pacific Time

Clarification... Disney is increasing their parks spending by $1 billion. That is about a 50% increase.

11/9/2017 1:55 PM Pacific Time

Lowell Singer, Investor Relation guru, finally told an investor that they will not be commenting on press speculation.

11/9/2017 1:56 PM Pacific Time

Bob just said that they have no need to add to their film slate.

11/9/2017 1:57 PM Pacific Time

That being said, the company has been able to leverage success across buisnesses so they will always be looking to add to the film franchises that they own.

11/9/2017 1:58 PM Pacific Time

The new trilogy will be seperate from the Skywalker saga.

11/9/2017 1:59 PM Pacific Time

Disney stock is now up in After Hours trading. I guess Bob said that right things for Wall Street.

11/9/2017 2:00 PM Pacific Time

Disney will showcase their under-development apps sometime after the first of the year.

11/9/2017 2:03 PM Pacific Time

Most of the additional $1B will be spent on both versions of Star Wars: Galaxy's Edge.

11/9/2017 2:06 PM Pacific Time

Bob also points out that there are plenty of expansion opportunities at their international parks as well.

11/9/2017 2:07 PM Pacific Time

The Disney service will be Disney branded, but will feature the other Disney brands.

11/9/2017 2:11 PM Pacific Time

There will not be "R" rated content on the service.

11/9/2017 2:12 PM Pacific Time

There will also be ample filtering optiuons. He says think of the content that fits within their theme parks.

11/9/2017 2:13 PM Pacific Time

It's official... the CFO just said that Cars 3 underperformed.

11/9/2017 2:13 PM Pacific Time

Disney is going to be making a big deal out of Mickey's 90th birthday.

11/9/2017 2:14 PM Pacific Time

The Disney service will be priced substantially less than Netflix.

11/9/2017 2:16 PM Pacific Time

Now Disney is up big in After Hours trading.  

11/9/2017 2:18 PM Pacific Time

Hulu has been a net positive during 2017. Their investment is offset by their licensing of content to the service.

11/9/2017 2:24 PM Pacific Time

That's a wrap from the call. Follow us for ongoing analysis as there is a lot to digest there.

11/9/2017 2:25 PM Pacific Time

Now Disney stock is at 104.10. They seem to love what Disney had to say despite missing earnings expectations.

11/9/2017 2:27 PM Pacific Time

CNBC can't believe how Disney was able to change the narritve thanks to good news about the streaming service.

11/9/2017 2:27 PM Pacific Time

For the record, Netflix stock is now down 1.85

11/9/2017 2:29 PM Pacific Time

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