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The Disney+ streaming business is on a tear, sending shares higher

February 12, 2021

Via: Fortune

Walt Disney Co. posted a surge in Disney+ subscribers and lower losses at its Covid-crippled theme parks, helping the world’s largest entertainment company return to profit in the latest quarter.

Subscribers to the family-oriented video service grew to 94.9 million in the period, Disney said Thursday. That exceeded the 90.7 million average of Wall Street estimates compiled by Bloomberg. Sales and earnings also topped projections, sending the shares up as much as 4.1% in late trading.

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