Disney misses on profit and key revenue segments, but sees strong streaming growth

Disney reported fourth-quarter earnings after the bell. Here are the results.

• Earnings per share: 30 cents per share adj. vs 55 cents expected, according to a Refinitiv survey of analysts
• Revenue: $20.15 billion vs $21.24 billion expected, according to Refinitiv
• Disney+ total subscriptions: 164.2 million vs 160.45 million expected, according to StreetAccount

Shares of Disney have slumped 34% since January and more than 42% over the past 12 months, as investors wonder whether the company can sustain its streaming growth amid higher inflation. There’s also concern that a looming recession could impact Disney’s other business ventures like its parks and studio businesses.

Disney’s parks, experiences and consumer products division has been strong in recent quarters, as more travelers venture to its domestic theme parks and spend money on merchandise. 

Its studio division should see a boost from ticket sales of Marvel’s “Doctor Strange in the Multiverse of Madness” and “Thor: Love and Thunder,” which performed well at the box office.

Opening later this week is “Black Panther: Wakanda Forever,” followed by “Avatar: The Way of Water” in mid-December. Both films are expected to be significant drivers of ticket sales for movie theaters.

This is a breaking news story. Check back for updates.