August 10, 2023
05:05
05:05
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Disney swings to net loss of $460M in third quarter
Disney has posted mixed results for its fiscal third quarter, plagued by streaming woes and hefty restructuring costs. Subscriber losses continued over the last three months, with the company reporting a 7.4% decline from the previous quarter, that's a more substantial loss than Wall Street had expected. On Wednesday, Disney announced it joined the streaming fight against password sharing, just like Netflix did earlier this year. But there was good news for the company too, as its parks, experiences and product divisions saw a 13% increase in revenue, especially for its international parks and products.
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