Business

Disney plans to restore dividends and cut 7,000 jobs. Stocks jumped.



Walt Disney

Shares jumped on Wednesday after the entertainment giant beat earnings expectations and announced that it is planning to cut jobs and restore dividends.

Disney reported non-GAAP earnings of 99 cents a share, well ahead of estimates of 78 cents a share, according to FactSet. Revenue of $23.51 billion was higher than estimates of $23.45 billion.

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