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.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

May 14, 2021 09:51 ET (13:51 GMT)

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