Don't Underestimate the Value of Disney's Brand, Jim Cramer Warns

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Disney  (DIS) - Get Report posted earnings on Thursday after the bell. 

Disney posted an adjusted loss of 20 cents per share for the three months ending in September as coronavirus-triggered shutdowns hammered theme parks and studio earnings, while group revenues slumped 23% to $14.71 billion.

Parks revenues tumbled 61% to $2.6 billion, Disney said, as the group's main attractions around the world remained closed during the quarter, loping $2.4 billion in profits from the division Media revenues fell 11% to $7.2 billion, although cable networks revenues rose 11% to $4.7 billion, the company said, thanks in part to the resumption of professional and collegiate sports in the United States.

Jim Cramer explains why Disney is a streaming company now and when it will go back to being a media and entertainment giant.

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