Disney lost $195 million at the closure of its television channel in Russia

In its quarterly report, Disney reported $195 million in losses related to the closure of the Disney Channel in Russia.

In March, the Major announced the suspension of the activities of all his units in the Russian Federation, including the publication of the National Geographic magazine, broadcasting of the Disney Channel, the release of content and licensing of products. Disney had recently suspended film distribution in the country. At that time, CFO Christine McCarthy noted that Russia and Ukraine account for only 2% of the company's business.

At the same time, Disney's quarterly revenue grew by 23% year-on-year, amounting to $19.25 billion with a projected $20.05 billion, and net profit reached $470 million compared to $901 million a year earlier.

In addition, the number of Disney+ subscribers increased to 137.7 million users, which is 7.9 million more than last quarter. Executive Director Robert Chapek said the company still expects to reach 230-260 million subscribers on its streaming service by FY2024.