Disney shares dropped over 3% after reporting mixed quarterly results. Revenue increased 2% to $23.65 billion, missing expectations. Adjusted EPS rose 16% to $1.61, beating estimates. Theme park business remains strong. Disney+ added 1.8M subscribers, totaling 128M. ESPN’s new streaming service to launch on August 21 for $29.99/month. Disney upgraded to a buy rating with a price target of $135. Disney increased its 2025 guidance, targeting adjusted EPS of $5.85.

Read more at CNBC: We’re upgrading our rating on Disney thanks to a misguided market reaction to earnings