Disney shares sink after the company reports streaming subscriber losses

  • 📰 CNBC
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The company, which posted profit and revenue for the period that were in line with Wall Street estimates, reported a loss of 4 million Disney+ subscribers.

new ad tier and continued economic uncertainty, according to a note from Paul Verna, principal analyst at research firm Insider Intelligence.

Analysts at SVB MoffettNathanson lowered their price target for the stock by $3 to $127 following the report but maintained the firm's outperform rating. The firm sees aggregate subscriptions being roughly flat in the fiscal third quarter and rising in the fiscal fourth quarter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Disney Earnings: Streaming Losses Shrink and ARPU Rises, Disney+ Subscribers Fall to 157.8MHigher prices did not seem to materially impact the Disney+ domestic subscriber base even as the service lost subs due to international arm Disney+ Hotstar.
Source: THR - 🏆 411. / 53 Read more »