A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park in Anaheim, California, U.S., on Friday, April 30, 2021.
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The company’s stock dipped more than 4% in after-hours trading.
- Earnings per share: 79 cents vs 27 cents expected in a Refinitiv survey of analysts
- Revenue: $15.61 billion vs $15.87 billion expected in the survey
The company missed on subscriber estimates for Disney+, coming in at 103.6 million paid subscribers. It was expected to post 109 million. The streaming service had been bolstering the company’s success as it was losing out on business from Covid restrictions.
Revenue at Disney’s parks, experiences and products segment fell 44% to $3.2 billion, as many of its theme parks were either closed or operating at reduced capacity and its cruise ships and guided tours were suspended.
This is a developing story.