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World’s largest entertainment company The Waly Disney Company (NYSE: DIS) announced second quarter financial results ended April 1, 2023, after the market close on Wall Street on Wednesday.
Walt Disney reported revenue of $21.815 billion for the quarter vs. $21.795 billion expected. Revenues were up by 13% vs. same period last year.
Earnings per share fell slightly short of expectations at $0.93 per share (down by 14% year-over-year) vs. $0.933 per share estimate.
Disney+ subscribers fell from 161.8 million to 157.8 million in the quarter. It has now lost 6.4 million subscribers over the last two quarters.
“We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” Robert A. Iger, CEO of the company said in a statement.
“From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers, while establishing a more efficient, coordinated, and streamlined approach to our operations,” he concluded.
The stock was down by over -8% on Thursday, trading at around $92.66 a share.
Walt Disney price targets
Walt Disney is the 63rd largest company in the world with a market cap of $170.34 billion, according to CompaniesMarketCap.
You can trade The Waly Disney Company (NYSE: DIS) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: The Waly Disney Company, TradingView, MarketWatch, MetaTrader 5, CompaniesMarketCap, Wikipedia, MarketBeat
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