Disney+ lost a net 2.4 million subscribers in the last three months of 2022 — marking the streaming service’s first decline since launching in late 2019 — while the Mouse House’s quarterly earnings topped Wall Street estimates, thanks to a surge in revenue at Disney’s theme parks.
The results are Bob Iger’s first back in the CEO role, after Disney’s board summarily ousted Bob Chapek in November, with Iger seeking to reassure investors that the company has a plan to get back on track.
The brightest spot for Disney in the quarter was its Parks, Experiences and Products group, which saw revenue climb 21% to $8.7 billion and operating income rise 25% to $3.1 billion, reflecting increased guest spending at domestic parks and experiences (and to a lesser extent at Disney's international parks and resorts).
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