Disney Q4 earnings top estimates as direct-to-consumer business slashes losses
By Yasin Ebrahim
Investing.com — Walt Disney reported Wednesday fiscal fourth-quarter earnings that topped Wall Street estimates, as its direct to consumer business including Disney+ raked in more subscribers and slashed losses.
Walt Disney Company (NYSE:DIS) shares gained 2% in after-hours trade following the report.
The company reported adjusted EPS of $0.82 on revenue of $21.24 billion. Analysts polled by Investing.com anticipated EPS of $0.71 on revenue of $21.37B.
Direct-to-consumer, which includes Disney+, Disney+ Hotstar, Hulu and ESPN+ streaming services, narrowed operating losses by more than half to $420M in Q4 from $1.41B a year earlier.
Disney’s parks, experiences and products business revenue rose 13% to $8.16B in Q4 from the same period last year.
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