Disney Shares Slide as Streaming Losses Balloon

Streaming losses more than doubled in the recent quarter but have reached their peak, says CEO Chapek

While speaking at WSJ Tech Live, Disney CEO Bob Chapek gives his thoughts on the number of players in the streaming space and the possibilities of consolidation. Photo: Nikki Ritcher for the Wall Street Journal

Shares of Walt Disney Co. fell more than 11% after quarterly losses at the company’s streaming business more than doubled from a year earlier and executives vowed to pare back spending in the division.

The entertainment conglomerate on Tuesday also reported a drop in its fiscal fourth-quarter revenue at its traditional media business, partially offsetting 36% revenue growth in the theme-parks division.

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