Disney loses streaming subscribers in first quarter

The company has lost 4 million streaming subscribers to its Disney+ service.

Its shares fell 4.5% in after-hours trading.

Earlier Hulu subscribers remained roughly flat at 48.2 million.

Disney said it planned to merge the two services into one app.

Cut 7,000 jobs as part of targeted $5.5bn (£4.36bn) cost savings across the company.

Bob Iger returned in November to take over the chief executive position from Bob Chapek.

For the last six months, Disney's streaming business has been earning money to start.

He said that the financial condition coming from its theme parks should not waver.