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Disney stocks surge as company posts best sales since pre-pandemic | FinancialContent Business Page

Disney stocks surge as company posts best sales since pre-pandemic | FinancialContent Business Page
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Disney+ subscriber growth is less than expected

Print Disney+ added fewer subscribers than expected in the most recent fiscal quarter, the latest sign that the pandemic-driven boom in streaming may be starting to wane. All eyes are on Disney’s streaming numbers, which have emerged as the company’s top priority. Disney+ hit 103.6 million subscribers worldwide in its second quarter, up from the 100 million it announced in March. But that was lower than the 109 million predicted by analysts on FactSet. Walt Disney Co. shares fell 4% in after-hours trading on Wall Street, after closing up 49 cents, or 0.3%, to $178.34. The disclosure comes after Netflix in April reported adding a disappointing 4 million global subscribers in the most recent quarter. Netflix said its paid membership growth slowed because of the “big COVID-19 pull forward in 2020 and a lighter content slate due to production delays.

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How much did Marvel heroes help lift Disney+? Answer due Thursday - Netscape Money & Business

How much did Marvel heroes help lift Disney+? Answer due Thursday By Lisa Richwine Reuters LOS ANGELES (Reuters) - With Walt Disney Co theme park operations limited due to the coronavirus pandemic, investors watching the company report earnings on Thursday are expected to zero in on its fast growth into streaming TV. During the January to March quarter, the Disney+ streaming service was aided by box office heavyweight Marvel Studios. The producer of blockbuster superhero films released its first TV series, WandaVision, in January followed by The Falcon and the Winter Soldier in late March. The animated Disney movie Raya and the Last Dragon was offered to Disney+ customers in March for $30, at the same time it was shown in theaters, which are struggling to rebound from the global health crisis.

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Disney returns to profit as streaming success offsets pandemic-hit parks

4 Min Read (Reuters) - Walt Disney Co swung to a surprise quarterly profit on Thursday, as “The Mandalorian” and “Soul” lifted its fast-growing streaming business, outweighing pandemic worries about its hobbled theme park operations. Slideshow ( 4 images ) Investors overlooked a 53% decline in park revenue in the quarter and welcomed Disney+ streaming reaching 94.9 million subscribers. Shares rose 3.1% to $194 after they closed at an all-time high in regular trade. The “Star Wars”-inspired “Mandalorian” series and Pixar’s animated “Soul” movie helped position the year-old Disney+ as a credible threat to the dominance of Netflix Inc in the streaming video wars. Including Hulu and ESPN+, Disney’s paid streaming membership topped 146 million.

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