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Photo by Liao Pan/China News Service via Getty Images

Disney's stock was up roughly 4% in after-hours trading after the company posted strong top and bottom line revenue gains.

Why it matters: Investors were bullish heading into Disney's earnings report, given that the company was finally able to open its Disneyland last quarter. The company also debuted two of its biggest blockbusters on its streaming service Disney+ (in conjunction with theater releases), boosting subscriber numbers and beating Wall Street estimates.

Details: Disney's subscriber beat was notable given that other streamers, like Netflix, reported subscriber slowdowns.

  • Disney has long argued that its stock should trade in response to its streaming subscriber growth, akin to Netflix.
  • That narrative helped to boost its stock last year, despite pandemic-related headwinds to its parks and resorts and theaters businesses.

Yes, but: While eased pandemic restrictions have helped Disney's parks and resorts business return to profit, the company warned that the pandemic's impact may still have an effect in the future.

  • In a note to investors, Disney said, "[although most film and television production resumed beginning in the fourth quarter of fiscal 2020, we continue to see disruption of film and television production, as well as live sports events, depending on local circumstances."

By the numbers via CNBC:

  • Earnings per share: 80 cents vs 55 cents expected in a Refinitiv survey of analysts
  • Revenue: $17.02 billion vs $16.76 billion expected in the survey
  • Subscribers: 116 vs. 114.5 expected by StreetAccount
    • Disney+: 116 million
    • ESPN+: 14.9 million
    • Total Hulu: 42.8 million
    • Hulu SVOD only: 39.1 million
    • Hulu Live TV + SVOD: 3.7 million

Go deeper ... Disney earnings

Go deeper

Xbox Game Pass subscriptions miss Microsoft’s target

Xbox Game Pass. Photo: Beata Zawrzel/NurPhoto via Getty Images

Subscriber growth for Microsoft’s signature gaming service, Xbox Game Pass, was slower than the company hoped for in the past year, according to a new financial filing.

Why it matters: Xbox Game Pass is often touted as the best deal in gaming and its subscriber count is a shorthand measure of Microsoft’s gaming success.

Nikolas Cruz pleads guilty to Parkland school shooting

Parkland school shooter Nikolas Cruz at the defense table during jury selection at the Broward County Courthouse in Fort Lauderdale, Fla., on Oct. 6, 2021. Photo: Amy Beth Bennett/South Florida Sun Sentinel/Tribune News Service via Getty Images

Nikolas Cruz on Wednesday pleaded guilty on all counts for carrying out the 2018 shooting at the Marjory Stoneman Douglas High School in Parkland, Fla., that left 17 people dead, including 14 students and three staff members.

Driving the news: Cruz, 23, pleaded guilty at a hearing on Wednesday to 17 murder counts and 17 counts of attempted first-degree murder for carrying out the deadly shooting.

3 hours ago - Health

White House unveils plan to "quickly" vaccinate kids ages 5-11

Charles Muro, 13, is inoculated at Hartford Healthcare's mass vaccination center at the Connecticut Convention Center in Hartford, Conn. Photo: Joseph Prezioso/AFP via Getty Images

The White House on Wednesday released its plan to vaccinate children between the ages of five and 11, pending authorization from the Food and Drug Administration of the first COVID-19 shot for that age group.

The big picture: The White House said it has secured enough vaccine supply to equip more than 25,000 pediatric and primary care offices, hundreds of school and community health clinics, as well as tens of thousands of pharmacies, to administer the shots.

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