Disney avoids Netflix’s fate as streaming subscriptions grow | CNN Business



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CNN Business
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Disney’s streaming numbers were under the microscope on Wednesday after Netflix’s stock tanked last following its first subscriber loss in a decade.

Luckily for the House of Mouse and its investors, Disney+ grew.

The streaming service now has 137.7 million subscribers — a gain of roughly 8 million in the company’s fiscal second quarter. Those results beat expectations and calmed Wall Street’s nerves about the streaming market after Netflix

(NFLX) missed so badly with its user growth last month.

The results sent shares up as much as 4.5% in early after-hours trading.

Disney

(DIS) notched $19.2 billion in revenue for the quarter, up 23% from last year. The company reported a net profit of $470 million in the second quarter, down 48% from a year ago.

This is a developing story. It will be updated.

Quoted from Various Sources

Published for: The Bloggers Briefing