Disney shares sink as streaming business falls shy of profitability

Disney's shares declined as its streaming services, including Disney+, Hulu, and ESPN+, narrowly missed achieving profitability in the second quarter, reporting a slight operating loss of $18 million. Despite this, the segment's loss has significantly decreased compared to last year. CEO Bob Iger remains optimistic about future growth, expecting profitability in the fourth quarter and further improvements next year. The company also plans to enhance Disney+ by cracking down on shared passwords and adding ESPN content.