Disney Reports Fiscal Q3 Earnings
​​​​​​​The most significant impact was at the Parks, Experiences and Products segment as most of our theme parks and resorts were closed for the entire quarter and our cruise ship sailings were suspended.
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Staff or Guest writer for The Dog of Wall Street.
2020-08-05 10:54

The Walt Disney Company (NYSE: DIS) 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.”


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Published On
2020-08-05 10:54

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About the Author
Staff or Guest writer for The Dog of Wall Street.

DIS
Analyst Ratings
Target Price $206.16
# of Analysts 25
Last updated 2021-04-10


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