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CNBC's "Fast Money"

Disney, Affirm shares drop after earnings, and the wild moves in crypto assets today 11/8/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 8 November 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Shares of the entertainment giant sank after it reported worse than expected earnings and revenue, even as it added more subscribers than expected. We dig into the numbers to find out where it’s going from here. Plus the so-called savior of crypto finding himself in a cash crunch. What Binance’s deal with Sam Bankman-Fried means for the digital currency space. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Right now in fast Disney dives the entertainment giant missing estimates in

0:05.4

this latest quarter even as it added more subscribers than expected but

0:09.2

will the mouse house be able to bounce back? We're digging into the details

0:12.2

to find out. Blast crypto so-called savior in a cash crunch how Sam Bankman

0:17.0

freed went from profiting up the industry to needing an investment of his

0:20.5

own and what it means for the decentralized currency landscape and pot at

0:24.4

the polls five states voting on whether to legalize recreational marijuana

0:28.4

today we'll be joined by the CEO of cannabis company Curly to find out how he

0:32.3

is prepping for the results. I'm Melissa Lee this is fast money we're live

0:35.7

with the Nasak market and time square on the desk tonight Carter worth Dan

0:39.3

Nathan Guy dummy and Jeff Mills and we start off with Disney the stock is

0:43.4

down six and a half percent after missing estimates for both earnings and

0:46.6

revenue the company did report a bigger than expected increase in

0:49.7

subscribers to its streaming service but average revenue per user was less

0:53.6

than expected the company's conference call is underway Steve Kovac has been

0:57.7

listening and Steve yeah there so the lot of talk now about missing

1:01.4

expectations for these growing DTC losses despite those growth in the

1:06.7

subscribers and the director consumer business also let's just talk about

1:10.4

EPS there's some Disney's biggest EPS miss since the early 90s guys and the

1:16.0

revenue miss biggest since August 2019 but back over to director consumer

1:20.3

Disney plus subscribers what's the little beat 164 million people are now

1:24.2

subscribed to that services but look it's the DTC losses that are getting

...

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