There is something seriously amiss about a company’s strategy when its share price slumps 8 per cent largely because of a long-settled strike by strolling players and scribblers on Hollywood’s sun-soaked sidewalks. The shares have been a battleground between bulls and bears for the past 18 months, and this has been, hands down, the bears’ week.
On the face of it, results for the third quarter ending on January 31 were not too shabby. Revenue was up 9 per cent at $2.65 billion, taking ebitda (earnings before interest, tax, depreciation and amortisation) up 7 per cent to $1.17 billion. However, those gains were south of the comparable improvements for the first nine months, which came in at 14 per cent and 12 per cent
