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Disney Slumps Most in 18 Months on Streaming Service Slowdown

  • Fourth-quarter sales, profit miss Wall Street estimates
  • Company had warned of slower growth for Disney+ service
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Why Disney's Earnings Report Has Investors Selling
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Walt Disney Co. shares sank the most since the onset of the pandemic after the company reported a smaller-than-expected increase in streaming subscribers, raising concerns that growth is slowing after a meteoric two-year rise.

The shares sank 8.3% to $159.96 at 9:52 a.m. in New York after earlier dropping as much as 9.2%, the biggest intraday decline since March 2020. The drop brought the company’s market value below that of archrival Netflix Inc. The streaming shortfall was part of a broadly disappointing quarter across the company’s business units.