Walt Disney Co (NYSE:DIS) stock rose 0.16% (As on May 8, 11:44:25 AM UTC-4, Source: Google Finance) after the company reported fiscal second-quarter earnings that beat analyst estimates after narrowing streaming losses but missed revenue estimates for the fourth consecutive quarter and guided toward a softer third quarter for experiences. Disney’s total segment operating income jumped 17% as the company’s entertainment streaming applications — Disney+ and Hulu — turned a profit in the quarter for the first time. When combined with ESPN+, the streaming businesses lost $18 million in the quarter, much narrower than the $659 million loss the division reported a year earlier. Entertainment streaming revenue (excluding ESPN+) rose 13% in the quarter to $5.64 billion, and operating income was $47 million after a loss of $587 million a year prior. Disney credited increased Disney+ subscribers and higher average revenue per user for the gains. Disney+ Core subscribers increased by more than 6 million in the second quarter to 117.6 million global customers. Total Hulu subscribers grew 1% to 50.2 million. ESPN+ subscribers fell 2% to 24.8 million.

Moreover, U.S. parks and experiences revenue rose 7% to $5.96 billion, and international sales soared 29% to $1.52 billion on increased attendance and higher prices at the Hong Kong Disneyland Resort. Disney’s TV business continued to lag as millions of Americans drop cable TV each year. While ESPN’s revenue rose 3% to $4.21 billion, operating income dropped 9% to $799 million. Linear network revenue across Disney’s portfolio, excluding ESPN, fell 8% to $2.77 billion. Operating income slumped 22% to $752 million. Disney cited fewer subscribers and a drop in international affiliate fees due to contract rate decreases for the declines. Advertising revenue decreases due to “lower average viewership” were also a factor. Content sales, licensing and other revenue, which includes box office, fell 40% in the quarter to $1.39 billion as Disney didn’t have any blockbuster movies in the quarter.

DIS in the first quarter of FY 24 has reported the adjusted earnings per share of $1.21, beating the analysts’ estimates for the adjusted earnings per share of $1.10, according to LSEG. The company had reported the adjusted revenue growth of 1 percent to $22.08 billion in the first quarter of FY 24, missing the analysts’ estimates for revenue of $22.11 billion. Disney reported a loss attributable to the company of $20 million, compared with a profit of $1.27 billion, in the year-earlier period.