Walt Disney Co. reported an even more jarring slowdown in Disney+ growth than expected Wednesday in the final quarter of its fiscal year, and shares fell in after-hours trading.

Disney DIS reported 118.1 million subscribers to its core streaming service, up 2.1 million, or 1.8%, from the previous quarter, after subscribers grew 9.2% and 8.6% in the preceding quarters. Chief Executive Bob Chapek had warned in September of low single-digit growth, but the number was still much smaller than expected — analysts on average expected…