Disney’s Q2 earnings report has drawn mixed Wall Street responses and concern over its ability to compete in the streaming space. Although Disney beat expectations on adjusted earnings per share and quarterly revenues, the total subscriptions to streaming platform Disney+ came in at 157.8 million, compared with an expected 163.17 million. As a result, shares in Disney were down more than 5% the following day. Cost-cutting measures and strength in experiential businesses, such as Disney’s cruises and parks, were seen as positives but needed to be weighed against the challenges facing the media giant’s streaming service as it seeks to position itself in the advertising market. Morgan Stanley analyst Benjamin Swinburne rated Disney as “buttressed by continued parks strength which… can bridge it to this uncertain future.”
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