00:00 It's Benzinga and here's what's on the block.
00:02 Disney reported better than expected fourth quarter earnings and raised its full year
00:06 guidance as it made progress in cutting costs, including slashing losses in its streaming
00:09 business. Earnings per share were $1.22 adjusted vs. $0.99 expected and revenue was $23.5B vs.
00:15 $23.6 expected. Disney's streaming losses narrowed significantly to $216M from $1.5B a year ago as
00:22 it cut costs. Disney+ experienced a decrease of 1.3M core subscribers after a price increase,
00:28 but the company's average revenue per user grew as a result of the higher subscription costs.
00:32 For all things money, visit Benzinga.com
