Disney was hammered on Wednesday by Wall Street following its fourth quarter earnings report, which missed on both earnings and revenue, as well as experienced a slowdown in streaming growth.
The company reported revenue of $18.53 billion during the quarter ending Sept 30, 2021, which represents its fiscal fourth quarter. Wall Street expected Disney revenue to come in at $18.79 billion. Disney also posted earnings per share of 37 cents, when analysts were expecting a per share value of 51 cents.
Disney’s stock has plummeted in after-hours trading, falling by more than 4%.
Disney+ saw its slowest quarter ever in terms of growth, adding just 2 million subs for a total of 118 million.