Shares of The Walt Disney Company fell on Thursday, following mixed results for the quarter ended April 3.
The entertainment giant’s fiscal second quarter earnings increased +32% year-over-year to 79 cents per share, compared to analysts’ expectations of 27 cents per share.
Revenue of $15.61 billion, however, came in below the $15.87 billion expected in the Refinitiv survey of analysts.
Paid subscribers of Disney+ was 103.6 million compared to 109 million expected by analysts polled by FactSet.
Average monthly revenue per user fell -29% year over year to $3.99, which the company attributed to Disney+ Hotstar. The service has lower average monthly revenue per paid subscriber than traditional Disney+ in other markets, pulling down the overall average.