Disney reports Q2 earnings

me 5/15/2023 12:36:00 AM

Despite losing 4 million Disney+ users, Disney's Q2 earnings revealed decreased losses thanks to price increases.

The company reported revenue of $21.82B and 157.8 million Disney+ subscriptions, falling short of the expected 163.17 million.

Losses from direct-to-consumer operating income came in at $659M instead of the forecast loss of $841M.
The American multinational's linear TV networks' quarterly revenue, $6.63B, fell by 7%.
Net income for the quarter was $1.49B, or $0.69 per share, compared to $597M, or $0.26 per share, a year prior.
Disney's parks, experiences, and products divisions had a 17% growth in revenue to $7.7B, with theme parks accounting for $5.5B of that total.

Disney has experienced production halts due to the Writers Guild of America strike — the first strike of the streaming era, which is already having a significant influence on Hollywood.