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Disney avoids Netflix's fate as streaming subscriptions grow

Disney avoids Netflix's fate as streaming subscriptions grow



Pixar's 'Turning Red'ReplayMore Videos ... (16 Videos)Pixar's 'Turning Red'Squirrel from 'Ice Age' movies finally gets his acorn in farewell videoAbigail Disney responds to right-wing media attacks on company'It's about right and wrong': Ex-Disney CEO on why he spoke out about billSee Ewan McGregor return as Obi-WanMinnie Mouse in a pantsuit is all the rage...for someDisney heiress exposes company's pay practices in new documentary clipWatch Disney fans line up for hours for this popcorn bucketThese clips from 'The Simpsons' are missing from Disney+ in Hong KongMarvel's 'Eternals' adds new heroes to the MCUScarlett Johansson and Disney agree to end lawsuitGospel legend's 'Star Wars'-themed theater goes viralDisney unveils one of its most innovative attractionsThis California theme park is set to reopen, but there's a catchDisney's 'Cruella' goes up in flames in new trailerDisney workers used to make magic, now they struggle to make ends meetNew York (CNN Business)Disney's streaming numbers were under the microscope on Wednesday after Netflix's stock tanked last following its first subscriber loss in a decade.

Luckily for the House of Mouse and its investors, Disney+ grew.The streaming service now has 137.7 million subscribers — a gain of roughly 8 million in the company's fiscal second quarter. Those results beat expectations and calmed Wall Street's nerves about the streaming market after Netflix (NFLX) missed so badly with its user growth last month.The results sent shares up as much as 4.5% in early after-hours trading.Disney (DIS) notched $19.2 billion in revenue for the quarter, up 23% from last year. The company reported a net profit of $470 million in the second quarter, down 48% from a year ago.Read MoreThis is a developing story. It will be updated.


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