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Walt Disney Net Income Slips 48%

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Man holds a remote control. Disney+ logo on TV screen in background.

The Walt Disney Company recorded a decline in its bottom line for the second quarter of its fiscal year 2022, following the drop in income from continuing operations.

Source: Walt Disney

DIS closed down 4.10%, while PBS closed down 2.55%.

Net income from continuing operations contracted by 48% to $470 million from $912 million, while income from continuing operations before slipped by 10% to $1.102 billion from $1.230 billion.

Revenues for the quarter expanded by 23% to $19.249 billion from $15.613 billion the same quarter in the previous year, while the diluted earnings per share contracted by 48% to $0.26 from $0.50.

The average monthly revenue per paid subscriber for Disney+ increased to $6.32 from $6.01 for domestic operations and to $6.35 from $5.14 for international operations.

Chief Executive Officer Bob Chapek said the firm recorded an additional 7.9 million Disney+ subscribers during the quarter, bringing total subscriptions across its DTC offerings to over 205 million.

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