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.
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.”
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