Disney Powers Ahead In Streaming, With Disney+ Reaching 164.2M Subscribers, But Fiscal Q4 Results Fall Short Of Wall Street Targets In Some Areas
deadline.comIs Disney suddenly giving off Netflix vibes? The media giant reported powerhouse streaming 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.
Total revenue of $20.15 billion in the period ending October 1 increased 9% over the year-ago quarter. Earnings per share, meanwhile, tumbled 19% to 30 cents on a diluted basis.
Wall Street analysts’ consensus forecast for revenue was $21.44 billion and EPS was 56 cents. The company’s Media and Entertainment Distribution division saw its revenue slump 3% 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.
Direct-to-Consumer revenues for the quarter increased 8% to $4.9 billion and operating loss increased by$800 million to $1.5 billion.
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