Disney earnings: Surge by Disney+ to nearly 95 million subscriptions leads to surprise profit

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Disney+ proved again to be a big plus during a pandemic that has all but shuttered the Magic Kingdom’s other businesses. And that had Disney shares up 2% in after-hours trading Thursday:

Walt Disney Co.’s streaming service, Disney+, proved again to be a big plus during a pandemic that has all but shuttered the Magic Kingdom’s other businesses. And that had Disney shares up 3% in after-hours trading Thursday.

After adjusting for restructuring charges and other effects, Disney reported earnings of 32 cents a share, down from $1.53 a share in the year-ago quarter. Analysts on average expected Disney to report an adjusted loss of 34 cents a share on sales of $15.9 billion, according to FactSet. Disney’s Media and Entertainment Distribution, which includes Disney+, brought in $12.66 billion for the quarter, a decline of 5% from the same quarter a year ago before the pandemic swept across the country. The Disney Parks, Experiences and Products unit took in $3.6 billion, down 53% year-over-year as many Disney parks and its cruise line remain closed. The flagship Disneyland Park in Anaheim, Calif.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Then, when tourism resume in the world they will have a queue of al least 2 years to get in the parks.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines