A Media & Entertainment Medley
High-profile media and entertainment earnings continue to roll in, so let’s quickly review. 📝
Disney’s $0.82 per share in adjusted earnings topped the $0.70 expected, as did its Disney+ subscribers of 150.2 million vs. 148.15 million expected. However, revenues of $21.24 billion were just shy of the consensus $21.33 billion. The 7 million new streaming customers helped the business narrow its losses, with executives reiterating that the combined streaming businesses will reach profitability in the fiscal fourth quarter of 2024. $DIS shares were up about 3% on the news. 🎢