Disney (DIS) Tops Q3 EPS, Revenues Miss
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Disney (NYSE: DIS) reported Q3 EPS of $0.08, $0.72 better than the analyst estimate of ($0.64). Revenue for the quarter came in at $11.78 billion versus the consensus estimate of $12.39 billion.
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). 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.
“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,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “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.”
The company reported 57.5 million paid Disney+ subscribers, 8.5 million ESPN+.
The following table presents the number of paid subscribers(1) (in millions) for Disney+, ESPN+ and Hulu as of:
Live TV + SVOD
The following table presents the average monthly revenue per paid subscriber(2) for the quarter ended:
Live TV + SVOD
For earnings history and earnings-related data on Disney (DIS) click here.
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