Disney (DIS) unveiled first quarter 2022 results that beat expectations after the bell on Wednesday. Shares jumped as much as 9% after the report.
New membership additions for the company’s two-year-old Disney+ streaming service surpassed analysts’ expectations. The metric was in focus as a return to in-person activities had some concerned over future growth for the direct-to-consumer video service, which benefitted from the height of stay-at-home orders during the COVID-19 pandemic.
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