Disney+ Has 100M Subscribers In Close Sight As Company Beats Q1 Estimates

Walt Disney Co DIS reported quarterly earnings of 32 cents per share, which may not compare to the analyst consensus estimate of a 41-cent loss. This is a 79.08% decrease over earnings of $1.53 per share from the same period last year.

The company reported quarterly sales of $16.25 billion, which beat the analyst consensus estimate of $15.93 billion by 2%. This is a 22.1% decrease over sales of $20.86 billion in the same period last year.

The company reports Disney+ subscriptions as of Jan. 2 were at 94.9 million versus the 26.5 million in the same quarter last year. Disney+ had 86.8 million subscriptions at the end of the previous quarter.

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"We believe the strategic actions we're taking to transform our company will fuel our growth and enhance shareholder value, as demonstrated by the incredible strides we've made in our DTC business, reaching more than 146 million total paid subscriptions across our streaming services at the end of the quarter," said CEO Bob Chapek.

Disney shares were trading up 1.7% at $194.20 in the after-hours session. The stock has a 52-week high of $191.25 and a 52-week low of $79.07.