Disney Q4 earnings miss expectations as streaming growth decelerates

Disney (DIS) $Disney(DIS.US)$ posted quarterly results that missed Wall Street's expectations as the media giant saw a more marked-than-expected slowdown in Disney+ streaming subscribers, with consumer mobility picking up and virus-related disruptions weighing on show production. Shares fell more than 3% in late trading following. the results.

Here were the main metrics Disney posted in its fiscal fourth-quarter report, compared to consensus estimates compiled by Bloomberg:

Revenue: $18.53 billion vs. $18.78 billion expected, $14.71 billion Y/Y

Adjusted earnings per share: 37 cents vs. 49 cents expected, loss of 20 cents Y/Y

Disney+ subscribers: 118.1 million vs. 119.6 million expected

The Burbank, Calif.-based company's flagship Disney+ streaming platform has become a key growth driver for the company overall, with the two-year-old platform capitalizing on a consumer shift to streaming. However, the platform has been adding users at a decelerating clip compared to earlier on during the pandemic, when stay-at-home behavior helped boost sign-ups both at Disney+ and at rivals like Netflix (NFLX).

Article excerpted from Yahoo.