Disney loses streaming subscribers in first quarter

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

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Its shares fell 4.5% in after-hours trading.

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Earlier Hulu subscribers remained roughly flat at 48.2 million.

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

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

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

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

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

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