What earnings beat? Disney's streaming slowdown is all anyone on Wall Street cares about.

Core Viewpoint - Disney reported better-than-expected profits and raised its full-year earnings growth guidance to 25% from 20%, but the stock fell 11% due to a light forecast for streaming growth [1][2]. Financial Performance - Disney added 6.3 million new subscribers in the quarter, bringing total streaming subscribers to 153.6 million, which was about 2 million below Wall Street estimates [2]. - The CFO indicated that the current quarter is pacing towards flat growth, highlighting the high expectations set by Wall Street for Disney's streaming portfolio [2]. Streaming Business Outlook - Disney's streaming segment is expected to turn profitable for the first time in its history, but the path to long-term profitability is not linear, with further losses anticipated in the fiscal third quarter due to seasonal slowdowns and increased expenses [3][4]. - Analysts believe that the transition to a streaming-focused company requires more time to meet investor expectations [3].