News Formal

Disney shares sink nearly 9% after the company reports streaming subscriber losses

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

United States News News

United States United States Latest News,United States United States Headlines

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

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 US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States 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 »