We’re running a spring sale for 50% off to a Wrap PRO annual subscription. Join the community! Greetings!It was a busy day of media earnings, with two heavy hitters releasing their results. In the morning, Disney issued its first report under new CEO Josh D'Amaro, while Warner Bros. Discovery posted its results after the bell as it prepares for its merger with Paramount (which had its turn on Monday). What did we learn? D'Amaro made a strong first impression, with fiscal second-quarter results that impressed Wall Street. Disney's stock closed up 7.5% to $107.99. D'Amaro is enamored with technology, and like Paramount CEO David Ellison, referred to areas like AI as an "accelerant" to its strategy (Is that the new corporate buzzword?). He also reiterated his desire for Disney+ to be the centerpiece of the fan experience, whether that's for its shows and films or its parks. Just how Disney will execute on this everything app remains to be seen. D'Amaro also aped Netflix's practice of reading pre-submitted questions from financial analysts on the conference call, which often leads to more canned answers and few surprises. It's not a surprise that no questions about Jimmy Kimmel popped up. I'm holding out hope this was a one-off for his debut outing and not the new norm. On the Warner Bros. Discovery side, the company remained mum about what's on everyone's mind: Its pending merger with Paramount. One big visual reminder of that deal came from its bottom line, where the company lost $2.92 billion thanks in large part to the $2.8 billion it had to pay to Netflix after Paramount swooped in. Aside from that hit, the company's streaming service continued to be a bright spot, with revenue growing 9% to $2.9 billion and profit up 29% to $438 million. Like Disney and Netflix, Warner Bros. has opted to stop disclosing its subscriber numbers each quarter. It's a troubling trend where companies are increasingly withholding certain metrics and cherrypicking the ones that they want investors to focus on. But in a few quarters, it's probably not going to matter to the shareholders of WBD. Roger Cheng Before we move on, be sure to follow me on my socials linked below for the latest updates. DMs are open for tips.    
Disney kicked things off by posting first-quarter revenue and earnings that topped Wall Street expectations... 
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