© Reuters. FILE PHOTO: Toy figures of people are seen in front of the displayed Disney + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Walt Disney (NYSE:) Co missed estimates for quarterly revenue on Wednesday as it had to pay $1 billion for early termination of rights for films and TV shows, although its streaming and theme park businesses posted strong growth.
The company’s revenue rose 23% to $19.25 billion in the second quarter ended April 2, below analysts’ expectations of $20.03 billion, according to IBES data from Refinitiv.
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