Disney hikes streaming prices, focuses on costs as Iger moves to reassure investors

Walt Disney said on Wednesday it would raise prices of its streaming service Disney+ in October, the second price hike this year, and CEO Bob Iger emphasized the company’s efforts to keep a lid on costs as he tried to reassure investors.

The company beat Wall Street’s profit expectations for its fiscal third quarter and said it was on track to cut costs by more than the $5.5 billion it promised investors in February.

Shares were last up 3% in extended trading, reversing losses after the entertainment conglomerate posted quarterly revenue below expectations and fell slightly behind analyst projections for U.S. subscribers of Disney+.