Disney 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.
With trading volume at three times normal levels, Disney shares were at $182.14, their highest point in nearly a month. Broader indices were largely flat.
Ford on Wednesday reported a rise in net income of 4% to $2 billion during the second quarter despite lower sales and upheaval in its executive ranks.The company attributed the rise to a change in the company’s tax rate and a strong performance from its credit arm.
DirecTV during the second quarter added 342,000 subscribers, but the gain was offset by the loss of 391,000 subscribers at corporate sister AT&T U-verse.
Dish said it lost 281,000 net pay-TV subscribers in the second quarter ended June 30, missing the average analyst estimate of a loss of 91,000 subscribers.
Exclusives
Facing increased competition, the streaming video provider’s subscriber growth slowed during the second quarter. While it added 160,000 new U.S. subscribers and 1.5 million international subscribers, both numbers fell short of the company’s predictions.
Though the Internet giant managed to beat Wall Street’s expectations, Yahoo said its revenue fell 19% from a year earlier, while its loss widened to $440 million. The company also reported Monday that it’s writing down $482 million in charges related to the declining value of social media site Tumblr.
WCBS Gets $1M For Super Bowl Spot
“Pretty incredible,” says CBS CEO Leslie Moonves of the million-dollar local spot in a third-quarter earnings call with analysts. And spots in the network broadcast of the big game have sold for more than $4 million, he says. CBS scatter is “very strong…accelerating as we speak,” he says, and retrans fees and reverse comp from affiliates are expected to continue to drive revenue growth in coming years.
