Disney missed quarterly revenue and subscribers estimates

By: Miguel A. Rodriguez

12:34, 14 May 2021

The American mass media and entertainment conglomerate reported second-quarter fiscal 2021 earnings that didn’t impress the markets

Disney announced an EPS of 79 cents on revenue of $15.61 billion. While the EPS topped the 27 cents estimates, the same can’t be said about the revenue as analysts were looking for $15.86 billion.

The number of paid subscribers reported during the quarter disappointed analysts, who were looking for 109 million, with the actual figures came in at 103.6 million. At a global level, it added less than 4 million subscribers. Moreover, the Parks segment of the company continued to drag on results due to limited capacity and closures. Disney estimated an additional $1.2 billion on the Disney Parks, Experiences, and Products segment operating income from the year-ago period.

Disney’s net income from continuing operations reached $912 million, from last year’s $468 million.

For the future, Disney plans to expand in countries such as Malaysia and Thailand starting June. Moreover, it projects 230 million to 260 million subscribers by 2024.

Sources: cbnc.com, Nasdaq.com

Share this article

This information prepared by capex.com/za is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation, or the particular needs of any recipient.You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation, or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of capex.com/zaJME Financial Services (Pty) Ltd trading as CAPEX.COM/ZA acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via CAPEX.COM/ZA, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15.  Magnasale Trading Ltd is the principal to the CFD purchased by investors.