Disney reported an even more jarring slowdown in Disney+ growth than expected Wednesday while missing expectations for earnings and sales, and shares fell in after-hours trading. $DIS shares fell more than 4% in after-hours trading Wednesday.
Walt Disney Co. reported an even more jarring slowdown in Disney+ growth than expected Wednesday while missing expectations for earnings and sales, and shares fell in after-hours trading.
Revenue improved to $18.53 billion from $14.71 billion a year ago. Analysts surveyed by FactSet had expected adjusted net income of 52 cents a share on revenue of $18.8 billion. Shares fell more than 4% in after-hours trading Wednesday following the release of the results, after declining 0.3% to $174.53 in the regular session.
Disney breaks down its operations into two segments, “Media and Entertainment Distribution” and “Parks, Experiences and Products.” In the fourth quarter, the media business collected revenue of $13.08 billion in total, while analysts on average expected $13.4 billion.
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