Why This Media Expert Is Cautious Ahead Of Disney's Earnings Report

Analysts are bullish on Walt Disney Co DIS going into earnings, Axios media reporter Sara Fischer said Thursday on CNBC's "Squawk Box."

The bullish sentiment is a result of Disney's comps from last year being "really really bad" and the park reopenings that took place during the second quarter, Fischer said. 

During the second quarter, Disney reopened its two biggest parks in Florida and California, capacity restrictions were lifted and people were not required to wear masks while outside in the theme parks. 

The problem is that Disney may have to lower expectations moving forward which would be bad for the stock, Fischer told CNBC.

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The Axios media reporter expressed concerns about the Disney+ streaming platform because Disney's streaming competitors showed slowdowns. 

Netflix Inc NFLX missed on earnings expectations and Roku Inc ROKU announced its users streamed 1 billion fewer minutes than in its previous quarter. 

"I wouldn't be shocked if the growth isn't what [analysts] were expecting," Fischer said.

Disney is set to announce its fiscal third-quarter 2021 financial results after the market closes today.

DIS Price Action: Disney has traded as high as $203.02 and as low as $117.23 over a 52-week period.

At last check Thursday, the stock was down 0.77% at $176.70.