The Walt Disney Co. (DIS) on Wednesday reported fiscal 2025 first-quarter results above analysts’ expectations, although Disney+ subscribers slipped from the prior quarter.
Disney posted net income of $2.55 billion, or $1.40 per share, on revenue of $24.69 billion. Analysts had expected $2.38 billion, or $1.31 per share, on revenue of $24.63 billion, per Visible Alpha.
Disney+ had 124.6 million subscribers in the quarter, down slightly from the 125.3 million the company reported last quarter. Disney also said it expects a “modest decline” in Disney+ subscribers in the second quarter.
CEO Bob Iger and CFO Hugh Johnston said in prepared remarks that Disney still expects to launch ESPN’s “flagship” offering all of the sports network’s programming as a streaming service this fall. They also said Disney has seen “encouraging” results from adding Hulu and ESPN+ tiles to Disney+, with standalone subscribers engaging with the content at a high rate.
Disney shares were little changed shortly after markets opened Wednesday. They entered the day up about 17% over the last 12 months.
UPDATE—This article has been updated with the latest share price information and prepared remarks for Wednesday’s earnings call.
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