Disney reported better-than-expected earnings for the fiscal fourth quarter, with net income of $264 million and adjusted earnings per share of 82 cents, beating Wall Street estimates. The company added 7 million new subscribers to its streaming service, Disney+, bringing the total to 150.2 million. However, ad revenue decline, primarily from ABC Network and owned TV stations, affected the overall revenue, which increased 5% to $21.24 billion, just short of expectations. Disney plans to aggressively manage costs and increase cost-cutting measures by an additional $2 billion, aiming for a total of $7.5 billion in savings.

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