NEW YORK – Disney second-quarter revenue dropped as the pandemic continued to weigh on its parks and theme parks.
But net income beat expectations and CEO Bob Chapek said signs of recovery can be seen across the company’s business as the pandemic begins to wane.
Disney+ subscribers more than doubled from a year ago to 103.6 million subscribers as of April 3. That was lower than some analysts expected, but Chapek said the company is still on track to reach its goal of 300 million to 350 million subscribers across all platforms by 2024.
Shares dropped 4 percent to $171.10 in aftermarket trading. Net income attributable to Disney for the three months ended April 3 totaled $901 million, or 49 cents per share.