Disney released its latest quarterly earnings early Thursday morning, reporting revenues of $22.5 billion, essentially flat from last year, and segment operating income of $3.5 billion, down 5 percent from a year ago.
While Disney is still feeling the pinch of linear TV’s troubles, its streaming business continues to grow. Most notable, the company beat Wall Street estimates with Disney+ subscribers rising by 3.8 million compared to Q3 to 132 million, and Disney+ and Hulu subscribers rising by 12.4 million to 196 million.
Direct-to-consumer revenue rose by 8 percent in the quarter to $6.2 billion, with operating income rising by 39 percent to $352 million.
Those subscriber numbers are still somewhat surprising given that Disney had two events in the quarter (which ended Sept. 25) that could impact subscribers: the short-lived suspension of Jimmy Kimmel, and the announcement of price increases.
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