Disney's streaming service managed to turn a profit, a rare achievement for a legacy media company. However, despite this success, Wall Street reacted negatively, causing Disney's shares to drop by over 9%, marking its worst trading day in 18 months.
In a significant milestone, Disney's streaming platforms, Disney+ and Hulu, generated a profit of $47 million for the first time. On the flip side, ESPN+ continued to lose subscribers and money, resulting in an overall streaming loss of $18 million. While this figure is substantial, it represents a significant improvement from the $659 million loss reported in the same period last year.
