(Walt Disney) Walt Disney stock rose up to 8% on Thursday in premarket after the company announced Disney+ subscriptions of 129.8 million in the first quarter of 2022. The subscriptions were more than expected, 125.75 million and 37% higher than the first quarter of 2021.
Total subscriptions, which included other services like Hulu and ESPN+, hit 196.4 million, a turnaround from the previous quarter, which showed slowing subscriptions.
The company announced that its average revenue per user reached $6.68 per month, up from $5.80 a month ago.
Disney’s stock was also boosted by its earnings, with the net income in the first quarter of 2022 reaching a record $1.15 billion or $0.63 diluted earnings per share, up from $0.02 in the prior year.
The net income in the first quarter was reported from a revenue of $21.82 billion, up 34% from the prior year’s quarter.
DIS: NYSE is up +6.64%.
