BURBANK, Calif.—The Walt Disney Company reported mixed streaming subscriber numbers, with Hulu gaining 1.2 million subs and its core Disney+ operations losing 1.3 million subs in its Q1 2024 fiscal year, but its stock was up by 11.3% at 11:10 a.m. ET on Feb. 8 as the company dramatically beat expectations on earnings and its streaming losses continued to sharply decline.
The company stressed that it continues to expect to reach profitability at its combined streaming businesses in the fourth quarter of fiscal 2024 and its Q1 Entertainment DTC operating losses improved by nearly $300 million versus the prior quarter. It also noted that Hulu subscribers increased by 1.2 million from the prior quarter and Disney+ Core subscribers decreased sequentially by 1.3 million.
