Disney, Cisco And 3 Stocks To Watch Heading Into Thursday
Disney
Disney (NYSE: DIS) shares rose 1.3% in premarket trading Thursday after the company reported fiscal first-quarter earnings that beat expectations. The entertainment giant reported earnings per share of $1.06, beating the consensus estimate of $0.99. Revenue also came in above expectations, at $23.51 billion versus the consensus estimate of $23.37 billion.
The strong earnings report was driven by strength in Disney's parks and resorts business, which saw a 23% increase in revenue. The company's streaming business also continued to grow, with Disney+ adding 11.8 million subscribers during the quarter.
Despite the strong earnings report, Disney shares have been under pressure in recent months due to concerns about the impact of the COVID-19 pandemic on its business. However, the company's latest results suggest that it is weathering the storm well and that its long-term growth prospects remain intact.
Cisco
Cisco (NASDAQ: CSCO) shares rose 1.2% in premarket trading Thursday after the company reported fiscal second-quarter earnings that beat expectations. The networking giant reported earnings per share of $0.88, beating the consensus estimate of $0.85. Revenue also came in above expectations, at $12.84 billion versus the consensus estimate of $12.76 billion.
The strong earnings report was driven by strength in Cisco's software and services businesses, which saw double-digit revenue growth. The company's hardware business also performed well, with revenue growing by 6%.
Cisco's earnings report was a positive sign for the company, which has been struggling in recent years due to the decline of its traditional hardware business. The company's shift to software and services is paying off, and its latest results suggest that it is well-positioned for growth in the future.
3 Stocks To Watch
In addition to Disney and Cisco, here are three other stocks to watch heading into Thursday:
- Apple (NASDAQ: AAPL): Apple is set to report fiscal second-quarter earnings after the bell on Thursday. The tech giant is expected to report strong earnings and revenue growth, driven by the continued strong demand for its iPhones, iPads, and Macs.
- Microsoft (NASDAQ: MSFT): Microsoft is set to report fiscal third-quarter earnings after the bell on Thursday. The software giant is expected to report strong earnings and revenue growth, driven by the continued growth of its cloud computing and productivity businesses.
- Bank of America (NYSE: BAC): Bank of America is set to report first-quarter earnings before the bell on Thursday. The bank is expected to report strong earnings and revenue growth, driven by the continued strength of the U.S. economy.
