Walt Disney’s streaming business added a robust 14.6mn subscribers in the fourth quarter but the growth came at a high cost, as substantial losses weighed on the company’s profits. As a result, operating income at Disney’s media and entertainment group plunged 91 per cent to $83mn in the quarter. Disney shares were 6.2 per cent lower at $99.90 in after-hours trading. Read More...
Walt Disney’s streaming business added a robust 14.6mn subscribers in the fourth quarter but the growth came at a high cost, as substantial losses weighed on the company’s profits. As a result, operating income at Disney’s media and entertainment group plunged 91 per cent to $83mn in the quarter. Disney shares were 6.2 per cent lower at $99.90 in after-hours trading.
