Zhitong Financial APP learned that$Walt Disney Company (DIS.US) $Announce the results for the third quarter of fiscal year 2022. According to the data, Walt Disney Company's Q3 revenue was $21.5 billion, up 26% from a year earlier, exceeding market expectations; adjusted diluted earnings per share were $1.09, compared with $0.80 a year earlier, exceeding market expectations.

By business, revenue from Walt Disney Company's media and entertainment business was $14.11 billion, up 11 per cent from a year earlier, while revenue from Walt Disney Company's park, experience and products business was $7.39 billion, up 70 per cent from a year earlier.

The number of Disney+ subscribers rose 31 per cent year-on-year to 152 million in the third quarter, well ahead of market expectations.

Walt Disney Company lowered the user guidelines for Disney+ in fiscal year 2024 to 215 million to 245 million, compared with a previous forecast of 230 million to 260 million. Walt Disney Company reiterated that Disney+ will be profitable by the end of fiscal year 2024. Walt Disney Company's streaming service lost $1.1 billion in the most recent quarter.

Walt Disney Company downgraded his expectations for Disney+ after failing to renew the streaming rights of the Indian Cricket Super League. Christine McCarthy, chief financial officer of Walt Disney Company, said that excluding Hotstar, the number of Disney+ users would be between 135 million and 165 million by the end of 2024, which is basically in line with the company's previous forecast. It is understood that Disney+ Hotstar is a regional service launched by Walt Disney Company for South and Southeast Asian markets, and its price is extremely low.

Walt Disney Company had predicted that the core users of Disney+ would account for 60 to 70 per cent of total users. McCarthy said it now expects Hotstar to have as many as 80 million users.

As of press time, Walt Disney Company was up nearly 7 per cent in after-hours trading.