Why Disney Shares Are Moving After Netflix's Earnings Report

Walt Disney Co DIS shares are trading higher by 3.32% to $102.37 Friday afternoon. Shares of several companies with streaming exposure, including Walt Disney in the case of Disney+, are trading higher in sympathy with Netflix Inc NFLX, which gained after reporting strong fourth-quarter results.

What Happened?

Netflix shares are leading the streaming sector higher after the company reported better-than-expected fourth-quarter sales results and issued first-quarter sales guidance above estimates. The company also reported its fourth-quarter global streaming paid memberships were up 4% year-over-year.

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Netflix said it ended the quarter with 230.75 million paid subscribers after adding 7.7 million during the quarter, which was well ahead of company expectations of 4.5 million.

Paid subscribers are up from 223.9 million sequentially and up from 221.84 million on a year-over-year basis...Read More

According to data from Benzinga Pro, DIS has a 52-week high of $157.50 and a 52-week low of $84.07.