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Disney+ was Disney’s only plus

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Disappointing quarter for Disney

The multimedia and entertainment conglomerate, Disney, posted yesterday its quarterly earnings. 

Sales plummeted 42% to $11.78 billion. The company reported a loss of $2.61 per share, compared to last year's gain of 79 cents a share. Analysts expected a loss of 64 cents/share and $12.4 billion worth of sales.

Disney announced a revenue of $11.78 billion, or an EPS of 8 cents. The consensus was forecasting $12.44 billion in revenue and a loss per share of 61 cents.

Another drop was in the revenue from amusement parks, products, and experiences, which decreased by 85% to $1 billion. At the same time, the quarterly revenue figures from studio entertainment decreased by 55% to $1.7 billion.

However, Disney managed to gain in other areas. Due to the pandemic, its Disney+ user base increased to 57.5 million active accounts. The media segment brought an income of roughly $3 billion, 48% higher than last year’s figures. 

After the report, Disney's stock price dropped 2%, but it managed to rebound and ended the extended session higher by more than 4%. Since the beginning of the year, Disney's shares lost 19%, while USA500 added 2%.

See on how the pandemic affected other earnings reports!







Miguel A. Rodriguez
Miguel A. Rodriguez

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.