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Shares of Disney are climbing in premarket trading after its subscriber numbers topped Wall Street expectations -reaching 174m subscribers across all its streaming services. Revenues grew 45% to $17 billion, and the company swung back to a $995 million profit from last year's $4.84 billion loss. Per capita spending was up "significantly" vs. 2019 numbers, at both Disney World and Disneyland, and reservations remain strong at both domestic resorts.

 

In other earnings news, Airbnb reported gross booking value of $13.4B in Q2 vs. beating consensus estimates. Revenue for the quarter was up 299% Y/Y against the soft pandemic comparable and the company's loss narrowed to $68M.

 

The latest census data is out: The fastest-growing big city in the country is Phoenix, which surpassed Philadelphia as the fifth largest. Immigration, a tech boom and middle-class Californians seeking affordable housing all contributed to Phoenix’s growth.  The change in Phoenix reflects a trend: All 10 of the largest U.S. cities saw their populations rise in the past decade. Three big cities in Texas — Houston, San Antonio and Dallas — outpaced the national average.

 

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