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AP National Business

Disney returns to profit in 4Q, but streaming gains slow

KIFI
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Published 2:41 PM

By TALI ARBEL
AP Technology Writer

The Walt Disney Co. returned to a quarterly profit as it once again got a bump from reopened parks  but subscriber gains to its Disney+ streaming service slowed. Disney’s financial results on Wednesday came short of analyst predictions, and its shares dropped in aftermarket trading. The company based in Burbank, California, ended its fiscal year with 118.1 million Disney+ subscribers, up 60% from the previous year but but only 2 million higher than the previous quarter and less than analysts’ forecast of 126.2 million. Disney says its streaming business is its top priority as cord-cutting reduces the viewing universe for traditional TV networks.

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