Disney’s direct-to-consumer segment, which includes the flagship Disney+ streaming service, posted a loss of US$659 million, the company said Wednesday. That’s significantly lower than the $850.3 million analysts projected and less than half what it was just two quarters ago.
The company’s resorts and consumer products unit boosted income by 23 per cent to $2.17 billion, in part due to a return to profitability for the company’s international theme parks. “We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company,” Iger said in a statement.The narrower losses at Disney+ should please investors who have shifted their focus in the past year from subscriber growth to the staggering cost of building and operating online video platforms.
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