2023-08-09 20:59:00
Walt Disney Co. announced on the 9th that earnings for the third quarter (third quarter) from April to June exceeded analyst expectations. However, the number of subscribers in the streaming business did not reach expectations.
Earnings per share were $1.03 in the June quarter, beating the average 99 cents forecast of analysts surveyed by Bloomberg. Sales rose 3.8% to $22.3 billion, slightly below analyst expectations.
The unexpected result was the streaming business. Direct-to-consumer losses, which include Disney+, narrowed to $512 million from more than $1 billion in the same period last year. Three months ago, management expected a loss of just over $750 million.
But Disney Plus membership fell 7.4% to 146.1 million last quarter, below the average analyst estimate of 154.8 million.
Disney shares fell about 1% in after-hours trading.
Original title:Disney Profit Tops Views; Streaming Subscribers Fall Short (1)(excerpt)
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