Investing
Disney Q3 revenue falls short as streaming business stutters
© Reuters.
Investing.com — Walt Disney reported Wednesday mixed fiscal third-quarter results as earnings beat, but revenue missed Wall Street estimates as momentum in its streaming business slowed.
Walt Disney Company (NYSE:) fell about 1% in afterhours following the report.
Disney adjusted EPS of $1.03, compared with Wall Street estimates of $0.99, while revenue of $22.33 billion missed estimates of $22.49 billion.
Disney’s parks business saw revenue climb 13% to $8.33 billion in Q3 from the year-ago period.
Disney+ subscribers fell to 146.1 million, missing estimates of 151.1 million, pressured by a 24% fall in Disney+ Hotstar subscribers.
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