FILE - In this Aug. 7, 2017, record photo, The Walt Disney Co. logo appears connected a surface supra the level of the New York Stock Exchange. The Walt Disney Co. returned to a quarterly nett arsenic it erstwhile again got a bump from reopened parks. Disney has closed oregon constricted capableness astatine its taxable parks during the pandemic, weighing connected revenue. But Burbank, California-based Disney's fiscal results connected Wednesday, Nov. 10, 2021 came abbreviated of expert predictions, and shares dropped successful aftermarket trading. (AP Photo/Richard Drew, File) (Richard Drew,AP)

The Walt Disney Co. returned to a quarterly nett arsenic it erstwhile again got a bump from reopened parks, but subscriber gains to its Disney+ streaming work slowed.

Disney had closed oregon constricted capableness astatine its taxable parks during the pandemic, weighing connected revenue. The parks person each reopened, with Disney World successful Florida unfastened since past summertime and California’s Disneyland lone since the extremity of April.

Burbank, California-based Disney connected Wednesday reported that its nett income was $159 cardinal successful the 3 months done Oct. 2, compared with a nonaccomplishment of $710 cardinal successful its fiscal 4th fourth a twelvemonth ago. Earnings per stock came to 9 cents, oregon 37 cents aft one-time items. Revenue climbed 26% to $18.53 billion.

Analysts polled by FactSet predicted net of 52 cents per share, excluding one-time items, connected gross of $18.8 billion. Disney shares dropped 4.9% to $165.98 successful aftermarket trading.

The institution ended its fiscal twelvemonth with 118.1 cardinal Disney+ subscribers, up 60% from the erstwhile twelvemonth but lone 2 cardinal higher than the erstwhile 4th and little than analysts' forecast of 126.2 million. It's the lowest fig of quarter-over-quarter subscriber gains since the work launched 2 years ago.

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Disney CFO Christine McCarthy said she expects “meaningfully higher” subscriber gains successful the 2nd fractional of the fiscal twelvemonth that started successful October than successful the archetypal six months.

Some analysts person warned that maturation is lagging and Disney+ could miss its people of 230 cardinal to 260 cardinal subscribers by 2024. Disney CEO Bob Chapek connected Wednesday backed the company's forecast successful a telephone with investors.

The institution has astir 179 cardinal full streaming subscribers including Disney+, ESPN+ and Hulu, and Disney says its streaming concern is its apical precedence arsenic cord-cutting reduces the viewing beingness for accepted TV networks. Still, Disney's networks business, which includes ABC, ESPN and FX, brings successful a batch of wealth — $8.41 cardinal successful nett this fiscal year.

The pandemic caused changes to movie operations astatine Disney and different movie studios. Several large releases were steered to streaming services similar Disney+ portion galore movie theaters were closed oregon had constricted capableness owed to COVID restrictions.

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Disney has said precocious that it is returning to theatrical releases for the remainder of the year's films. Chapek said Wednesday that the theatre manufacture is seeing immoderate recovery. Disney's “Shang Chi and the Legend of the Ten Rings” smashed the grounds for Labor Day openings, earning $90 cardinal implicit the four-day weekend.

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