Disney's earnings beat, managing Gap CEO – What to know in the markets Friday

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Disney's better than – expected financial fourth-quarter results and Gap's c-suite shakeup & nbsp; will put the spotlight on Friday. "data-reactid =" 15 "> Disney's fourth-quarter financial results and Gap's c-suite- Shaking will put the spotlight on Friday.

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.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "After the closing clock on Thursday, the media processing announced Disney ( DIS ) reported fourth-quarter financial income and revenue from Wall Street, which reported adjusted earnings of $ 1.07 per share of $ 19.1 billion, with analysts predicting adjusted earnings of $ 0.95 per share of $ 19.05 billion during Disney's last quarter. "data-reactid =" 16 "> After closing on Thursday, media behemoth Disney (DIS) announced fiscal and fourth-quarter tax revenue consistent with Wall Street's estimates. The company reported adjusted earnings of $ 1.07 per share of $ 19.1 billion. Analysts forecast adjusted earnings of $ 0.95 per share of $ 19.05 billion during Disney's last quarter.

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<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses, "said Disney CEO Bob Iger & nbsp; in a statement. & nbsp;" We has spent the last few years completely transforming The Walt Disney Company to focus the resources and tremendous creativity across the company on delivering an extraordinary direct-to-consumer experience, and we are excited for the launch of Disney + November 12. "" Data-reactid = "28"> "Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses," Disney CEO Bob Iger said in a statement. "We have spent the last few years completely transforming The Walt Disney Company to focus the resources and tremendous creativity across the company on delivering an extraordinary direct-to-consumer experience, and we are excited for the launch of Disney + November 12. ”

Disney's revenues in the Media Networks segment jumped 22% year-on-year to $ 6.5 billion, while Parks revenue increased 8% to $ 6.66 billion, and Studio Entertainment segment revenue increased 52% to 3 $ 31 billion.

Meanwhile, Disney's operating deficits direct to consumer and international, which includes Disney +, were narrower than expected to $ 740 million. Analysts expected $ 811.1 million operating deficits during the quarter

Shares rose more than 3.5% of earnings in the after-hours session.

Gap CEO resigns

Yet another CEO is on his way to the exit, Gap announced Thursday night, current CEO Art Peck will step down from his role after a brief transition period. Robert Fisher, Gap's current non-executive chairman, will serve as interim president and CEO, effective immediately.

"On behalf of the entire board, I would like to thank Art for his many contributions to Gap Inc., which spans nearly 15 years of career with the company," Fisher said in a statement. "During Art & # 39; s term as CEO Director, we have made progress in investing in capabilities that are good for the future, such as expanding the omni-channel customer experience and building our digital capabilities. "

Gap has been under considerable pressure as sales at the company continue to struggle. also gave poor forecast. The news sent shares plunging 10% in the after-hours session on Thursday.

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<p class =" canvas-atom canvas-text Mb (1.0em) Mb ( 0) – sm Mt (0.8em) – sm "type =" text "content =" Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung . "data-reactid =" 37 "> Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung [19659016].

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