From Investing.com: 2024-05-15 11:58:02

Walt Disney shares dropped 3% after CEO Bob Iger mentioned the high marketing expenses for Disney+ at a media conference. The company plans to cut costs to turn a profit by the end of the fiscal year. Iger also discussed plans to invest in technology for personalized customer messages.

Disney has been focused on growing Disney+ subscribers since its 2019 launch. Now, the company aims to trim costs to reach profitability. Iger predicts double-digit profit margins for the streaming business in the future. He also mentioned expectations for growth in the parks business, though recent double-digit growth won’t continue.



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