ALBAWABA - Disney has announced conflicting financial results for the third quarter of the current year, amidst ongoing streaming issues and cost restructuring associated with its platforms' content.
The decline in the number of subscribers to the Disney+ service continued over the past three months, with the count reaching 146.1 million subscribers, a decrease of 7.4% from the previous quarter.
In comparison, analysts had anticipated a subscriber count of 151.1 million for the Disney+ service.
Most of the decline in subscriber numbers came from the Disney+ Hotstar service, where its user base dropped by 24% due to the loss of broadcasting rights for the Indian Premier League matches.
Disney's earnings per share reached $1.03 compared to expectations of 95 cents per share. The company achieved quarterly revenues of $22.33 billion, falling short of expectations that had indicated revenues of around $22.5 billion.
