10:19 ET -- Walt Disney Co. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data, after the company logged weaker-than-expected fourth-quarter earnings. Disney plans to make cuts to its marketing and content budgets after its fiscal fourth-quarter adjusted earnings of 30 cents a share missed the consensus analyst forecast of 56 cents a share, according to FactSet. Revenue rose 9% from a year ago, to $20.2 billion, below the $21.27 billion expected. Disney's flagship Disney+ streaming service added 12.1 million net new accounts, beating analysts' predictions, but its streaming business lost $1.47 billion in the quarter, 38% wider than what analysts had forecast. Its shares are down 11%, at $89.37. Dow Jones & Co. owns Factiva. (robb.stewart@wsj.com)


(END) Dow Jones Newswires

11-09-22 1034ET