The company blamed the disappointing results on the ongoing integration of Fox, increased streaming costs and weak theme parks attendance.
Despite the disappointing earnings report, analystsabout the stock, noting that the Fox integration and increased streaming costs were temporary headwinds.
"In our view, the investment thesis is the same and if we liked the stock before earnings, we love it on any weakness," J.P. Morgan analyst Alexia Quadrani said. "With so many moving pieces between the newly acquired Fox and Disney+ launch, there are bound to be some hits and misses each quarter." Credit Suisse analysts said the earnings miss isn't likely to discourage "investors who are excited about the company's transition to streaming" with the upcoming Disney+ launch.
Disney+'s starting cost of $6.99 should help it lure customers away from rival Netflix, Needham analysts said. Additionally, the service will feature most Pixar, Star Wars, Marvel and Disney princess films when it launches, they added.
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