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

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Disney  (DIS) - Get Walt Disney Company 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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