“Disney” to Cut Costs by More Than $5.5 Billion

  • International
  • 10 August 2023
1

The Walt Disney Company reported quarterly revenue below Wall Street expectations. The company announced it was continuing to cut costs by more than $5.5 billion it pledged to investors in February.

The entertainment group, which posted quarterly profit below expectations, revealed that the number of subscribers to Disney+ in the United States was slightly below analysts' expectations. Disney reported revenue of $22.33 billion in the quarter ended July 1, up 4 percent from a year ago but below Wall Street's median estimate of $22.5 billion.

Source (Al-Arabiya.net Website, Edited)

 

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