By Allison Prang
Shares of Walt Disney Co. fell 3.5% after the market opened Friday following the company's second-quarter report where both revenue and Disney+ subscribers missed analysts estimates.
The media company reported revenue of $15.61 billion, down 13% from a year ago and against analysts expectations for $15.86 billion. Paid Disney+ subscribers ended the quarter at 103.6 million, but Wall Street expected 109.3 million.
Adjusted earnings were 79 cents a share and beat analysts' consensus forecast for 26 cents a share.
The shares were down to $172.10.
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(END) Dow Jones Newswires