Disney Shares Fall on Expensive Streaming Gains, Q3 Profit Miss

Disney Shares Fall on Expensive Streaming Gains, Q3 Profit Miss

Walt Disney (HAZE) – Get a free report shares fell on Wednesday, extending 2022 declines to around 40%, after the media and entertainment giant posted weaker-than-expected fourth-quarter results amid an expensive race to take over Netflix (NFLX) – Get a free report as the world’s largest online streaming platform.

Disney added 14.6 million subscribers during the full quarter, with ESPN+ totaling 24.3 million paid subscribers and Hulu rising to 47.2 million. Disney’s total subs of 235.7 million are now well ahead of the 223.1 million last recorded by Netflix

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