Disney, AMC, Affirm, and more

Shira Smolko

Disney (DIS): Inspite of reporting record total-year income, Disney shares fell 6% in extended buying and selling after lacking on equally the prime and bottom lines in its fiscal fourth quarter. The company posted altered earnings of 30 cents a share on profits of $20.15 billion. Disney+ additional 12 million subscribers through the quarter, topping estimates, but streaming losses grew to $1.5 billion, up from $630 million a calendar year ago. Even with widening losses, CEO Bob Chapeck explained to investors he “still sees Disney + accomplishing profitability in fiscal calendar year 2024.”

AMC (AMC): The motion picture theater chain’s losses widened to $226.9 million for the duration of the quarter, its 12th quarterly reduction in a row, putting tension on shares in right after-several hours investing. Profits improved 27% to $968.4 million.

Affirm (AFRM): Shares plunged after the business posted a wider than envisioned reduction and weak guidance. Affirm expects fiscal next quarter profits of $400 million to $420 million and entire-yr profits of $1.6 billion to $1.675, short of analyst’s estimate.

Novavax (NVAX): The vaccine maker described revenue of $734.6 million, far more than three occasions its gross sales from a calendar year back. NovaVax also noted it shipped about 94 million doses of Covid-19 vaccine globally to day. Irrespective of the progress, Novavax lowered its 2022 profits guidance to $2 billion, beneath the consensus estimate and at the lessen close of its past forecast.

Marathon Digital Holdings (MARA): The crypto miner recorded a net decline of $75.4 million through the 3rd quarter compared with a web decline of $22.2 million a 12 months in the past. Marathon’s chairman and CEO Fred Thiel wrote in the earnings launch, “the third quarter of 2022 was a transition and rebuilding period at Marathon.” Revenue decrease 75% from a 12 months back to $12.69 million.

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