Disney’s fiscal first-quarter earnings revealed a 1% decline in Disney+ subscribers, totaling 124.6 million, down from 125.3 million. Despite this, the streaming service reported another profitable quarter. Domestic Disney+ subscriptions grew by about 1%, while international numbers fell by 2%. Disney anticipates another “modest decline” in subscribers for the second quarter. However, the company’s overall financial performance was strong, with net income rising nearly 23% to $2.64 billion, or $1.40 per share, from $2.15 billion, or $1.04 per share, the previous year. Adjusted earnings were $1.76 per share. Revenue increased by 4.8% to $24.69 billion. The entertainment division saw a 9% revenue jump to $10.87 billion, with operating income soaring 95% to $1.7 billion. Disney’s experiences segment, including parks and cruises, saw a 3% revenue increase to $9.42 billion, although domestic theme park operating income dropped 5% to $1.98 billion due to various factors including hurricanes. Disney’s sports segment, led by ESPN, reported an 8% revenue growth to $4.81 billion and a 15% increase in operating income to $228 million.
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