Disney shares rise after reporting 73 million paid Disney+ subscribers, losses not as drastic as expected

Disney reported earnings after the bell. Here are the results.

• Loss per share: 20 cents, vs 71 cents expected, according to Refinitiv survey of analysts
• Revenue: $14.71 billion, vs $14.20 billion expected, according to Refinitiv

Disney said its streaming service, Disney+, now has 73 million paid subscribers as of the end of the fourth quarter.

Shares rose as much as 6% after hours.

The Covid-19 pandemic has most significantly impacted Disney’s parks division due to local restrictions that have forced temporary closures or limited capacity. Disney estimated in its earnings release that costs related to the pandemic will total roughly $1 billion in fiscal year 2021, though it said changes to local restrictions could alter that figure.

Here’s how Disney’s segments did in the fourth quarter in terms of revenue compared to the same quarter last year:

• Parks, Experiences and Products: $2.58 billion, down 61% year over year
• Media Networks: $7.21 billion, up 11% year over year
• Studio Entertainment: $1.60 billion, down 52% year over year
• Direct-to-Consumer and International: $4.85 billion, up 41% year over year

This story is developing. Check back for updates.

Disclosure: NBCUniversal is the parent company of Universal Studios and CNBC.

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