Jim Cramer Says the Story Has Changed for Disney, Despite Weak Earnings
Disney's earnings report wasn't pretty, but Jim Cramer says the future looks brighter.
Walt Disney (DIS) - Get Report reported quarterly earnings that missed expectations, but TheStreet's Jim Cramer says the narrative has changed around the company and that's why it's stock was trading higher early Friday. During the earnings conference call, Disney CEO Bob Iger says ESPN has a brighter future despite ongoing subscriber losses. Iger was upbeat about long-term revenue growth for ESPN. In its quarterly report, Disney's revenues fell three percent from the previous year, but revenue rose for its resorts and studio entertainment units.
