Disney’s streaming losses improve even as subscriber numbers decline

Disney on Wednesday reported that its streaming losses narrowed as price increases helped offset the loss of 4 million subscribers at Disney+.
The company, which posted revenue and profit in line with Wall Street’s projections, also reported significant growth at its theme parks during its second fiscal quarter. Its linear TV unit struggled, however.
Disney shares fell about 2% in after hours trading.
Here are the results, compared with estimates from Refinitiv and StreetAccount:
Earnings per share: 93 cents per share adjusted, vs 93 cents per share expected, according to a Refinitiv survey of analysts
Revenue: $21.81 billion vs $21.79 billion expected, according to Refinitiv
Disney+ total subscriptions: 157.8 million vs 163.17 million expected, according to StreetAccount

The company also saw higher subscription revenue at Disney+, where average revenue per user rose 20% to $7.14 for domestic subscribers. This gain was offset by a 20% fall in revenue for Disney+ Hotstar, which pushed global Disney+ ARPU to just $4.44, lower than the $4.52 projected by Street Account.
A bright spot for Disney came from its parks, experiences and products divisions, which saw a 17% increase in revenue to $7.7 billion during the most recent quarter.
Beyond day-to-day operations at the company, shareholders and industry analysts expect Iger to address a number of ongoing challenges during Disney’s earnings call Wednesday.