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IPFS News Link • Media: Internet

Disney Tumbles On Subscriber, Revenue Miss

• https://www.zerohedge.com, by Tyler Durden

After several impressive quarters of huge gains for its recently launched Disney+ subscription service, Disney couldn't quite make it this time and moments ago the company reported Q1 earnings that beat on the bottom line but missed on revenues and subscribers, sending the stock sliding in after hours.

Here are the details: first the good news:

Adjusted EPS 79c, more than double the estimate of 32c

And now the bad:

Disney+ subscribers 103.6 million, estimate 110.3 million (Bloomberg Consensus)

Revenue $15.61 billion, estimate $15.85 billion (range $14.94 billion to $16.93 billion)

Similar to Netflix, the torrid growth of Disney+ is also stalling fast:

Nov 2019:   launches

Feb 2020:  29 million

Apr 2020:  50 million

May 2020: 55 million

Jun 2020:  58 million

Aug 2020: 61 million

Oct 2020:  74 million

Dec 2020: 87 million

Jan 2021:  95 million

Mar 2021: 100 million

Apr 2021: 104 million

The top-line breakdown showed softness in the media and entertainment distribution even as parks came in line:

Media and entertainment distribution revenue $12.44 billion, estimate $12.64 billion,

Parks, experiences and products revenue $3.17 billion, estimate $3.17 billion


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