© Reuters. FILE PHOTO: Toy figures of people are seen in front of the displayed Disney + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
By Dawn Chmielewski and Lisa Richwine
LOS ANGELES (Reuters) – Walt Disney (NYSE:) exceeded Wall Street’s earnings expectations on Wednesday as higher attendance at its Shanghai and Hong Kong theme parks offset a decline in advertising revenue at television network ABC.
Shares of the entertainment company rose 1.6% in after-hours trading to $85.84.
The company reported per-share earnings, excluding certain items, of 82 cents in its fiscal fourth quarter ended Sept. 30, topping an average forecast of 70 cents a share, according to LSEG data. Quarterly revenue of $21.2 billion was largely in line with consensus estimates.
The company said it added nearly 7 million Disney+ subscribers in the quarter, with the inclusion of “Guardians of the Galaxy Vol. 3” and the original series “Star Wars: Ahsoka.” Disney+ and Disney+ Hotstar together boast 150.2 million subscribers, ahead of Visible Alpha’s estimate of 147.4 million.
“Our results this quarter reflect the significant progress we’ve made over…
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