Stock of the week | Disney
Walt Disney shares dropped by 8.7% after a sharp decline in income from its traditional TV business and sustained losses in its streaming segment were reported. Disney managed to cut losses in its streaming business in Q2 due to increased Disney+ prices. However, it lost approximately 300,000 subscribers in the U.S. and Canada and saw cancellations in India after losing the rights to a popular cricket league. Consequently, global Disney+ subscribers decreased by four million to 157.8 million, against an expected increase to 163.2 million.
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