Disney Stock Tumbles On Expensive Streaming Gains, Q3 Earnings Miss

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The Street

By Martin Baccardax “Our approach going forward is going to be focused largely on profitability,” instead of pure subscriber additions, CEO Bob Chapek said. Walt Disney (DIS) – Get Free Report shares slumped lower Wednesday, extending their 2022 decline to around 40%, after the media and entertainment giant posted weaker-than-expected fourth quarter earnings amid an expensive race to overtake Netflix (NFLX) – Get Free Report as the world’s biggest online streaming platform. Disney added 14.6 million subscribers over the whole of the quarter, with ESPN+ totaling 24.3 million paid subscribers an…

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