Staff or Guest writer for The Dog of Wall Street.

2020-08-05 10:54

The Walt Disney Company ($176.46|1.18%) today reported earnings for its third fiscal quarter ended June 27, 2020.

Here the highlights:

• Diluted earnings per share (EPS) from continuing operations for the quarter was a loss of $2.61 compared to income of $0.79 in the prior-year quarter.
• Excluding certain items affecting comparability(1), diluted EPS for the quarter decreased 94% to $0.08 from $1.34 in the prior-year quarter.
• EPS from continuing operations for the nine months ended June 27, 2020 was a loss of $1.17 compared to income of $5.97 in the prior-year period.
• Excluding certain items affecting comparability(1), EPS for the nine months decreased 53% to $2.22 from $4.74 in the prior-year period.
• Results in the quarter and nine months ended June 27, 2020 were adversely impacted by the novel coronavirus (COVID-19).

Bob Chapek, Chief Executive Officer, The Walt Disney Company said:

“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. The global reach of our full portfolio of direct-to-consumer services now exceeds an astounding 100 million paid subscriptions -- a significant milestone and a reaffirmation of our DTC strategy, which we view as key to the future growth of our company.”

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