Walt Disney Co. reported a quarterly loss of nearly $5 billion Tuesday due to a pandemic that has all but paralyzed its theme parks, live productions and cruise line.
After adjusting for that charge and other factors, Disney reported net income of 8 cents a share, compared with $1.34 a share a year ago. Revenue plunged 42% to $11.78 billion from a record $20.25 billion a year ago. Analysts surveyed by FactSet had expected an adjusted loss of 64 cents a share on sales of $12.4 billion.Disney shares initially dropped 2% in after-hours trading, but then moved to a 1% gain. Disney’s shares are down 19% this year. The broader S&P 500 index SPX, +0.
A lone bright spot was Disney+, which launched in mid-November and now boasts 57.5 million subscribers. The direct-to-consumer and international division, which includes Disney+, was the only Disney segment to grow from last year, reporting revenue of $3.97 billion after recording sales of $3.86 billion a year ago. Analysts had expected $4.65 billion, according to FactSet.
But they still MADE a billion on parks. How
Bullish!
When you say pandemic you mean the government right?
That cat must have gotten into the flubber before it died.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Variety - 🏆 108. / 63 Read more »