Walt Disney Misses On Revenue As Theme Parks See $3.5 Billion Hit; Earnings Excluding Charges Beat Street; Media Networks, Studio Mixed

Walt Disney Misses On Revenue As Theme Parks See $3.5 Billion Hit; Earnings Excluding Charges Beat Street; Media Networks, Studio Mixed
Walt Disney said revenue last quarter was $11.87 billion, lower than expected and down 42% from the year before with the theme park division taking a $3.5 billion hit.

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,
See full article at Deadline »

Similar News


Recently Viewed