Disney to combine Hulu, Disney+ into 1 app; posts higher earnings on strong theme park performance

📆 11.05.2023 04:30:00
📰 FOX26Houston

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Ongoing strength at its theme parks and an improving streaming business propelled The Walt Disney Co. to higher profits and revenue in its fiscal second quarter.

After adjusting for one-time items, Disney earned 93 cents per share, matching analysts’ expectations according to a poll by FactSet.Sales at its parks, experiences and products segment rose 17% in the quarter. Revenue for the segment that includes Disney’s movie business climbed 3%.

The company lost 4 million subscribers at its Disney+ streaming service, ending the second quarter with 157.8 million paying subscribers.

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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.
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