The Walt Disney Co. reduced losses in its streaming business by 26% (about $200 million) in its fiscal second quarter as the company’s overall results matched Wall Street expectations.
The streaming story included some mixed indicators, however. Flagship service Disney+ had its second straight quarter of sequential decline in subscribers following three years of strong and steady growth.
It closed the quarter on April 1 with 157.8 million global subscribers, down 4 million from the prior quarter, with the biggest drag coming from Disney+ Hotstar, whose base shrunk by 8%.
Excluding certain items, Disney posted diluted earnings of 93 cents a share, down from $1.08 in the same quarter a year ago.
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