The Walt Disney Co., the world’s largest entertainment giant, reported on Tuesday that fourth-quarter results came in right around where Wall Street expected. But there are signs of streaming subscription fatigue.
The conglomerate reported a profit of 30 cents a share on revenue of $20.15 billion, while streaming subscriptions hit 164.2 million, during the quarter.
Disney, which has been in a back-and-forth battler with Netflix for the title of the world’s biggest streaming platform, was expected to post a profit of 54 cents per share for the three months ending in September, a 46% increase from last year , on revenues of $21.247 billion.
Disney+, expected to rise by 8.9 million, added more than 12 million streaming subs, which hit a record 152.1 billion last quarter. That was down from the 14.4 million added over the three months ending in June.
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Reference-www.thewrap.com
