Walt Disney Co's new streaming service Disney+ reached 28.6 million paying ...
- Walt Disney Co’s new streaming service Disney+ reached 28.6 million paying subscribers this week, the company said on Tuesday as it reported quarterly earnings that beat Wall Street forecasts.
Analysts at three brokerages had expected more than 20 million subscribers to Disney+, which is available in five countries including the United States. Disney+ will be available in India on March 29 through streaming service Hotstar. “ believe we’re now well positioned to not only withstand the disruptive forces of technology but thrive in today’s increasingly dynamic media environment,” Disney Chief Executive Bob Iger said on a conference call.
Excluding certain items, Disney earned $1.53 per share, above the average analyst estimate of $1.44, according to IBES data from Refinitiv. Revenue rose to $20.9 billion, up 36% from a year earlier. The closings could shave $135 million off operating income at Shanghai, and $40 million at Hong Kong, if they extend for two months, Chief Financial Officer Christine McCarthy said.
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