Disney+ users increased in the past quarter
One of the largest producers and entertainment providers in the world – Disney posted fiscal Q4 2020 earnings that beat estimates.
In Q4, Disney reported losses per share of 20 cents, ahead of the 68 cents estimated by the market. The revenue figures came in at $14.71 billion, topping the $14.34 billion consensus. Analysts were expecting the revenue to fall 25%, given the current global situation.
Disney+, the company’s streaming platform, reported an increase in the number of users. The numbers reached 73.7 million after in the previous quarter the numbers were at 60.5 million.
On the other hand, the revenue generated by amusement parks plunged 61% to $2.58 billion, while the studio revenue reached $1.6 billion after a 52% fall.
For the fiscal year 2021, Disney expects the Coronavirus-related costs to come in at $1 billion, a considerable drop from Q4’s $3.1 billion. For the whole year, the costs came in at $7.4 billion. Also, Disneyland will stay closed until the end of fiscal Q1 2021.
Following the news, Disney’s stock price rallied 3.4%.
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.