Disney’s earnings are hurt by costs at Disney+

The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks.

“We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, said on a conference call with analysts. Some cost adjustments will provide short-term savings, others are long-term and structural, she said.

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