Disney (DIS) Stock Dips Despite Surpassing Earnings Expectations and Boosting Streaming Revenue

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Disney reported a 30% increase in adjusted earnings, to $1.21 per share, and a 1% rise in revenue to $22.08 billion in its Q2 results.
The entertainment giant’s streaming revenue jumped 13% to $5.64 billion, driven by an increase in subscribers and average monthly subscription price.
Disney raised its full-year adjusted earnings outlook to 25% growth, up from the previously expected 20%.

Disney’s Q2 results show improved streaming financials and an updated earnings guidance, despite falling short of revenue forecasts.

Disney’s Q2 Earnings Overview

Disney (DIS) reported a 30% increase in adjusted earnings, to $1.21 per share, marking a second straight quarter of slowing growth. Revenue rose 1% to $22.08 billion. The results cleared FactSet earnings expectations of $1.10 per share but fell just short of the revenue forecast of $22.12 billion. Disney+ subscribership increased to 153.6 million for the quarter, up from 149.6 million in Q1 but down from 157.8 million last year. FactSet expected 154.5 million subscribers for the quarter.