Disney: Quarterly sizes lower than expected, but subscribers ‘compensated’

Financial figures for the second quarter of the current year were announced by Disney for the second quarter of the current year, with the increase of the subscribers, however, to “compensate” the market and to give more than 3% profit in the share in the post-conference transactions.

In particular, the company announced a net profit of $ 470 million or 26 cents per share, with sales of $ 19.25 billion, compared to $ 16.26 billion in the same period last year. The company’s revenue was hit by $ 1 billion, as the company was asked to pay a fine for canceling a contract with a partner after it decided to broadcast the content on its own platform, which resulted in its sales being shaken. at a lower level than analysts expected.

The company ‘s adjusted earnings were $ 1.08 per share, up 32 cents from the same period last year, but were lower than expected, as analysts expected adjusted earnings of $ 1.19 per share with revenue of $ 20.05 billion.

However, while the quarterly figures were disappointing, the increase in the company’s subscriber base “compensated” analysts, in particular, subscribers to the Disney + platform increased by 7.9 million compared to the previous quarter, reaching 137.7 million people, and Its total subscription base, which also includes the ESPN + and Hulu platforms, exceeded 205 million people.

Analysts expected a slightly smaller increase in the number of subscribers, to 135.07 million people for the Disney + platform and a total of 204.4 million people for all of the company’s content platforms.

In Wednesday’s trading session, Disney’s stock rose 3% to $ 108.44.