Disney Beats Profit Estimates on Streaming, Parks

Stock Performance & Expectations - Disney's stock had a positive run in the last six months, leading to high expectations for earnings and guidance [2][3] - The market may have already priced in the expected outperformance, resulting in a "sell on the news" reaction [3][4] - Disney's stock price ten years ago was at the same level as the current price, indicating a decade of stagnation [6] Strategic Transformation & ESPN - Disney is potentially setting the stage for a strategic transformation, with Iger's last year being 2026 [6][7] - Disney is positioning ESPN for a potential separation from the rest of the company in the next 12-18 months [7] - Key moves include launching a direct-to-consumer ESPN service, adding NFL content, and securing deals with the NBA and WWE [7] Deals & Partnerships - The market initially reacted positively to the ESPN and NFL media deal [5] - The speaker expresses surprise that there isn't more excitement around the WWE deal and the NFL deal [4]