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News
Friday, November 14, 2025
What’s happening: Shares of The Walt Disney Company fell on Thursday, after the company reported results for its fiscal fourth quarter.
What happened: The media and entertainment giant posted better-than-expected earnings for the latest quarter, while sales came in short of estimates.
Disney also warned that it could face a prolonged dispute with YouTube TV.
How were the results: The Burbank, California-based company reported flat sales growth for its fourth quarter.
Why it matters: Strong growth in Disney’s streaming and parks businesses were weighed down by weakness in its TV networks.
The company’s direct-to-consumer streaming businesses reported a combined operating income of $352 million, with revenue of $6.25 billion. Disney said it added 12.5 million subscribers to Disney+ and Hulu during the quarter, driven by a distribution agreement with Charter Communications.
However, revenues from the company’s Entertainment division fell 6% year-over-year to $10.21 billion and operating income contracted 35% to $691 million. Disney’s TV networks have been unavailable on Google’s YouTube TV since October 31 due to an ongoing carriage fight between the two companies.
“While we’ve been working tirelessly to close this deal and restore our channel to the platform, it’s also imperative that we make sure that we agree with a deal that reflects the value that we deliver, which both YouTube, by the way, and Alphabet have told us is greater than the value of any other provider,” CEO Bob Iger said.
The company doubled its share repurchases authorisation to $7 billion and announced plans to boost its dividend by 50% to $1.50 per share.
Management guided to double-digit growth in adjusted earnings in fiscal 2026.
How shares responded: Disney’s shares fell 7.8% to close at $107.61 on Wednesday, following the release of quarterly results. The stock has added around 5% over the past year.
What to watch: Investors will keep an eye on new content from the company, which is expected to provide a boost to its overall results ahead. Disney is looking to invest $24 billion in content in fiscal 2026 across Entertainment and Sports and spend $9 billion on capex as it develops AI to personalise streaming.
The ongoing dispute between Disney and YouTube TV will also remain in focus.
Context: Equity markets in China fell this morning as investors assessed the latest economic data.
Details: Data released this morning showed China’s retail sales grew by 2.9% year-over-year in October, easing from September’s 3.0%. Although the latest figure marked the weakest growth since August 2024, it topped market estimates of 2.7%.
China’s industrial production rose by 4.9% year-over-year in October, easing from the three-month high of 6.5% recorded in September and coming in below market estimates of 5.5%. The latest reading signalled the softest gain in industrial output since August 2024.
China’s new home prices fell 2.2% year-over-year in October, in-line with the pace of previous month’s decline. This marked the 28th consecutive month of price declines.
The CSI 300 Index fell 0.60% to 4,673.88 this morning, while the Shanghai Composite index slipped around 0.1% to 4,026.55. Meanwhile, the CNY/USD forex pair edged lower to 7.0963.
What to watch: With no major economic releases on Monday, investors will continue monitoring the overall geopolitical environment.
Other Markets: US trading indices closed lower on Thursday, with the Dow Jones index, S&P 500 and Nasdaq 100 down by 1.65%, 1.66% and 2.05%, respectively.
Russian forces announced a major attack on Ukraine’s Kyiv, with a series of explosions reported in the capital. The news sent the RUB/USD pair higher in forex trading this morning.
Peru’s trade surplus rose to $3,654 million in September, from $2,573 million in the year-ago month, lending support to the PEN/USD forex pair.
Brazil’s Finance Ministry slashed its 2025 economic growth outlook from 2.3% to 2.2%, citing downbeat third-quarter results, which sent the BRL/USD pair lower in forex trading this morning.
New Zealand’s BusinessNZ Performance of Manufacturing Index climbed to 51.4 in October, from 50.1 in September, lending support to the NZD/USD forex pair.
South Korea’s export prices surged 4.8% year-over-year in October. This being a significant acceleration from the 2.1% gain in the previous month sent the KRW/USD pair higher in forex trading this morning.
Spain’s inflation rate (1200 UAE Time), Italy’s balance of trade (1300 UAE Time), Eurozone’s balance of trade (1400 UAE Time), employment change (1400 UAE Time) and GDP growth rate (1400 UAE Time), India’s bank loan growth (1530 UAE Time), deposit growth (1530 UAE Time) and foreign exchange reserves (1530 UAE Time), Russia’s balance of trade (1700 UAE Time), GDP growth rate (2000 UAE Time) and inflation rate (2000 UAE Time), Canada’s manufacturing sales (1730 UAE Time) and wholesale sales (1730 UAE Time), as well as US EIA natural gas stocks change (1930 UAE Time), Baker Hughes oil rig count (2200 UAE Time) and Baker Hughes total rigs count (2200 UAE Time).
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