Disney recorded better-than-expected revenue in the first quarter but suffered from an unexpected drop in the number of subscribers to its Disney+ streaming service. The entertainment giant generated $21.8 billion in revenue in what is the second quarter of its staggered fiscal year (October to September), up 13 percent year-on-year.
In electronic trading after the close of Wall Street, the group's stock lost more than 4%. The contraction in the Disney+ subscriber portfolio is mainly due to an 8% decline in India, where the service accounts for almost a third of the global total.