Disney+ adds 12M subscribers from last quarter

(Source: Associated Press)
Published: Feb. 10, 2022 at 5:28 PM CST
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(CNN) - Disney shareholders may be the happiest investors on Earth right now.

The stock of the company shot up 9% after Feb. 9′s closing bell when it reported close to 130 million Disney+ subscribers. That’s 12 million more than the previous quarter and higher than analysts expected.

In the fourth quarter, Disney only managed to add two million subscribers to its streaming service. The jump in subscribers helped the entertainment company double its profits from last year. It made one-point-one billion dollars in the first quarter.

Record income from Disney’s parks and resorts also contributed to that number.

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