Disney achieves quarterly revenue below expectations

Disney revealed its quarterly business results for the fourth fiscal quarter, which came in below expectations.

Earnings per share: 30 cents versus Refinitiv’s forecast of 55 cents

Revenue: $20.15 billion compared to forecast of $21.24 billion

Number of Disney Plus subscriptions: up 12.1 million to 164.2 million at the end of the fiscal quarter, above expectations of 160.45 million

The total number of subscriptions to Hulu reached 47.2 million levels, while the total number of subscriptions to ESPN + reached about 24.3 million, and the total number of subscriptions to the three services combined reached 235 million, compared to 223 million in Netflix.

For his part, Bob Chapek, Chairman of the Disney Board of Directors, stated that Disney+ will achieve profitability in the fiscal year 2024.

The company is preparing to raise service prices next month, and plans to add an ad-supported package, which it expects will contribute to boosting revenue.