At press time, the stock fell nearly 9% to $105.99
Zhitong Finance learned that Disney (DIS.US) shares declined on Tuesday. As of press release, the stock had fallen nearly 9% to $105.99. Disney's total revenue for the second fiscal quarter ending March 30 was about US$22.08 billion, up 1% year on year. This figure was slightly lower than analysts' average forecast of US$22.15 billion; the number of paid subscribers to the Disney+ streaming service platform was about 117.6 million, up 6% year over year, slightly lower than analysts' expectations. Disney+ is a streaming service platform where Marvel superhero movies such as the “Avengers” series, as well as movies such as “Frozen” and classic IPs are located. The number of Hulu's paid subscribers was 50.2 million, an increase of 1% over the previous year.
Notably, the company had no new theatrical releases this quarter, due in part to the intense pressure brought about by the double strike of screenwriters and actors last year. Disney CEO Eagle is currently trying to revive Disney's signature movie entertainment business by delaying the release of some movies to focus on film quality. The film division, which includes Disney Studios, reported a sharp drop in sales of about 40% in the last fiscal quarter, with operating losses of up to $18 million.