Nine out of ten Communication Services companies that reported quarterly results this week exceeded earnings per share expectations, while The Trade Desk missed. The Walt Disney Company posted adjusted earnings per share of $2.06, beating the $1.86 analyst estimate, with revenue rising 7% to $25.25 billion. Warner Bros. Discovery reported better-than-feared profit but missed on revenue, as its streaming segment grew 10% and studio revenue fell 39%. The Trade Desk shares tumbled about 22.5% after missing both earnings and revenue estimates, with revenue rising 3% to $715 million and adjusted earnings per share of $0.34. On the revenue side, six of the ten companies beat consensus estimates.
Trade Desk IncMissed both earnings and revenue estimates, causing shares to tumble 22.5%.
Walt Disney CompanyBeat EPS estimates with adjusted EPS of $2.06 vs $1.86 expected.
Warner Bros Discovery IncReported better-than-feared profit but missed revenue; streaming grew 10% while studio revenue fell 39%.
