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Walt Disney Company (NYSE:DIS) shares are trading higher Monday following a strong box office opening from “Deadpool and Wolverine.”
What Happened: Disney’s strong box office performance of Disney/Marvel’s “Deadpool & Wolverine” has set IMAX records with a $36.5 million global debut. This opening marks the biggest R-rated and July opening, the eighth biggest IMAX opening ever and the biggest since “Avatar: The Way of Water.”
“Deadpool & Wolverine” achieved an all-time opening weekend record for a rated-R film, with $205 million domestically. The film also became AMC Entertainment Holdings’ (NYSE:AMC) highest revenue-generating merchandise program of the year, surpassing “Despicable Me 4” and now ranks as AMC's second-highest merchandise program in its history.
AMC CEO Adam Aron praised the return to high levels of moviegoing this summer, citing the success of “Deadpool & Wolverine,” “Inside Out 2” and “Despicable Me 4.”
Upcoming Earnings: Disney is also set to report its third-quarter earnings on August 7th before market open, with estimated earnings per share (EPS) of $1.19 and projected revenue of $23.03 billion.
DIS Price Action: Disney shares were trading up by 2.39% at $92.08 according to Benzinga Pro.
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Photo courtesy: Shutterstock.
