Why Disney Shares Are Rising Following Netflix's Earnings Report - Netflix (NASDAQ:NFLX), Walt Disney (NYSE:DIS)

Notable names in the streaming and entertainment sector, including Walt Disney Co DIS, are trading higher in sympathy with Netflix Inc NFLX Wednesday morning after the company reported better-than-expected third-quarter results and reported global streaming paid net additions of 2.41 million. Global streaming paid memberships grew 4.5% year over year.

What Happened?

Netflix reported third-quarter revenue of $7.93 billion, up 5.9% year-over-year. The total came in ahead of a Street estimate of $7.84 billion, according to data from Benzinga Pro.

The company posted third-quarter earnings per share of $3.10, beating a Street estimate of $2.13…Read More

See Also: Netflix Q3 Earnings Highlights: Revenue, Subscribers Beat Estimates, Company Throws Shade At Streaming Rivals

Disney is trading higher by 1.17% at $99.58 Wednesday morning.

Image and article originally from www.benzinga.com. Read the original article here.