The number of new subscribers to Disney+, Walt Disney’s online video service (OTT), increased more than expected last quarter, Reuters and others reported on the 9th (local time).
According to the report, the number of Disney+ subscribers increased by 11.8 million to 129.8 million in the first quarter of last month.
Experts predicted a quarterly increase in subscribers to 8.17 million.
Disney expects the number of new Disney+ subscribers to increase more in the second quarter than in the first quarter.
Netflix, a leader in the OTT market, suffered a nearly 20% decline in stock prices last month as it released unexpected new subscriber forecasts.
Disney recorded $21.82 billion in sales in the first quarter, up 34 percent from a year earlier, thanks to an increase in Disney Plus subscribers and increased sales of theme parks, surpassing experts’ expectations ($20.91 billion).
Net profit per share also recorded $1.06, more than expert expectations (63 cents).
Sales in the theme park sector more than doubled to $7.23 billion, exceeding the pre-COVID-19 level.
The theme park sector’s operating profit was $2.45 billion. During the same period last year, it suffered an operating loss of $119 million.
Profits in the TV sector, including ESPN and ABC broadcasting, fell 13% to $1.5 billion due to rising program production costs.
Profits in the content sales sector fell 44% to $880 million in the aftermath of sluggish theater operations.
Disney shares once surged in the 10% range in overtime trading thanks to positive earnings announcements.
Disney shares have fallen 4.9% this year as of the closing price.
