Disney Powers Ahead In Streaming, With Disney+ Reaching 164.2M Subscribers, But Fiscal Q4 Results Fall Short Of Wall Street Targets In Some Areas
numbers in its fiscal fourth quarter, with flagship service Disney+ surging to 164.2 million global subscribers, but some key financial metrics fell short of Wall Street expectations.
The company’s Media and Entertainment Distribution division saw its revenue slump 3% in the quarter to $12.7 billion, while Parks, Experiences and Products jumped 36% on the continued bounce-back of theme parks and travel after lengthy Covid setbacks. $800 million to $1.5 billion. The increase in operating loss was due to a higher loss at Disney+ and aDisney+ jumped 12.1 million subscribers from the previous quarter. Although the growth curve was less steep for the other two services in the portfolio, Hulu and ESPN+, the former reached 47.2 million subscribers and the latter ESPN+ got to 24.3 million. Taken together, the tally of 235.7 million direct-to-consumer subscribers exceeded Wall Street expectations by several million.
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