But diluted earnings per share (Eps) after items came in at $0.08, down from $1.34 the year before but still in positive territory. It beating Wall streeet expectations and drove the share higher in after-hours trading.
A massive $5 billion restructuring and impariment charge related mostly to international channels resulting in a loss on continuing operating of $4.72 billion.
The numbers were hotly anticipated as a measure of how partial reopenings of parks, stalled production and live sports – all slowly returning — are impacting the business. An earnings call after the numbers was the first with no trace of executive chairman and former CEO Bob Iger.
“Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer businesses,