Disney Plans to Reinstate Dividend and Cut 7,000 Jobs

Walt Disney


stock jumped on Wednesday after the entertainment giant topped earnings expectations, while also announcing it was planning to cut jobs and reinstate its its dividend.

Disney reported non-GAAP earnings of 99 cents a share, ahead of estimates of 78 cents a share, according to FactSet. Sales of $23.51 billion was a touch above estimates of $23.45 billion.