Disney posts mixed results for quarter plagued by streaming woes, restructuring costs

Disney posted mixed results for the fiscal third-quarter contempt ongoing streaming woes and monolithic restructuring costs from pulling contented from its platforms.

Subscriber losses continued implicit the past 3 months, with the institution reporting 146.1 cardinal Disney+ subscribers during the astir caller quarter, a 7.4% alteration from the erstwhile quarter. Wall Street had expected Disney would study a smaller nonaccomplishment of 151.1 cardinal subscribers, according to estimates from StreetAccount.

The bulk of subscriber losses came from Disney+ Hotstar, wherever the institution saw a 24% driblet successful users aft it mislaid retired connected the rights to Indian Premier League matches.

EPS: $1.03 per stock adjusted, versus 95 cents per stock expected, according to a Refinitiv statement surveyRevenue: $22.33 billion, versus $22.5 cardinal expected, according to RefinitivDisney+ full subscriptions: 146.1 million, versus 151.1 cardinal expected, according to StreetAccount

Disney posted a nett nonaccomplishment of $460 million, oregon a nonaccomplishment of 25 cents per share, during the quarter, down from a nett income of $1.41 billion, oregon 77 cents per share, during the twelvemonth agone period. On an adjusted basis, the institution earned $1.03 per share.

Revenue accrued 4% to $22.33 billion, conscionable abbreviated of Wall Street estimates of $22.5 billion.

One agleam spot for the institution was its parks, experiences and products division, which saw a 13% summation successful gross to $8.3 cardinal during the quarter. Disney saw spot astatine its planetary parks during the quarter, portion home parks, peculiarly Walt Disney World successful Florida, saw a slowdown successful attendance and edifice country purchases.

Similar slowdowns were seen by Comcast's Universal taxable parks successful Florida.

Ahead of Disney's net call, investors are looking for much clarity connected however Iger plans to hole Disney's TV concern and juggle the diminution of subscribers astatine Disney+.

Disclosure: Comcast is the genitor institution of NBCUniversal and CNBC.

This is breaking news. Please cheque backmost for updates.

Correction: Disney recorded $2.65 cardinal successful one-time charges and impairments for its fiscal 3rd quarter. A erstwhile mentation misstated the figure.