Disney (DIS) Tops Q4 EPS by 51c; Disney+ Now Has 73.7M Paid Subs
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Disney (NYSE: DIS) reported Q4 EPS of ($0.20), $0.51 better than the analyst estimate of ($0.71). Revenue for the quarter came in at $14.71 billion versus the consensus estimate of $14.2 billion.
“Even with the disruption caused by COVID-19, we’ve been able to effectively manage our businesses while also taking bold, deliberate steps to position our company for greater long-term growth,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “The real bright spot has been our direct-to-consumer business, which is key to the future of our company, and on this anniversary of the launch of Disney+ we’re pleased to report that, as of the end of the fourth quarter, the service had more than 73 million paid subscribers – far surpassing our expectations in just its first year.”
Direct-to-Consumer & International
Direct-to-Consumer & International revenues for the quarter increased 41% to $4.9 billion and segment operating loss decreased from $751 million to $580 million. The decrease in operating loss was primarily due to improved results at Hulu and ESPN+, partially offset by higher costs at Disney+, driven by the ongoing rollout and a decrease at our international channels.
The improvement at Hulu was due to subscriber growth and increased advertising revenues driven by higher impressions, partially offset by an increase in programming and production costs due to higher subscriber-based fees for programming the live television service.
Higher results at ESPN+ were driven by subscriber growth and higher income from Ultimate Fighting Championship pay-per-view events.
The decrease at our international channels was due to lower affiliate and advertising revenues, partially offset by a decrease in costs driven by lower general and administrative expenses and bad debt recoveries.
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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