Disney posted better-than-expected revenue in the first quarter but suffered an unexpected drop in subscribers to its Disney+ streaming service. In electronic trading after the close of Wall Street, the group's stock lost more than 4%.
The trajectory contrasts with that of its great rival in online video, Netflix, which remains on three quarters of growth in a row. The average revenue per subscription increase by 13%, mainly due to price increases. The streaming business remains loss-making, but continued to reduce its losses in the quarter.