- Disney has released details of its fourth quarter earnings which show an increased revenue of $20.86 billion
- The company's earnings per share for the period was $1.53 per share, beating the $1.46 projection announced by analysts
- About 10 million people immediately signed up for Disney+ when it was launched on Tuesday, 12 November, 2019
The fourth-quarter earnings of The Walt Disney Company, the American multinational mass media and entertainment conglomerate, have been released.
Information available shows that the subscribers for its new Disney+ streaming service shot up to over 26 million and the monthly revenue per paid subscriber was $5.56.
Briefly.co.za understands that the company’s shares increased by about 2% soon after its release but this soon changed.
Yahoo Finance reports that Disney set a five-year goal of 60 million to 90 million subscribers for the streaming service worldwide.
According to the chairman and chief executive officer of the company, Robert Iger, "we had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations."
Disney registered a $1.53 per share, beating the $1.46 projection announced by analysts ahead of the release of the details by 4.8%.
Its quarterly revenue was also $20.86 billion, beating the Wall Street's $20.78 billion estimate.
About 10 million people signed up right away for Disney+ when it was launched on Tuesday, November 12, 2020, though some were on a free offer for customers of Verizon Communications Inc.
The service also likely picked up a number of subscribers because of the buzz around its first hit series, The Mandalorian.
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