In the midst of a global pandemic, Disney still managed to bring in billions, despite falling slightly short on Wall Street predictions. For the first time, Disney Plus subscriber numbers have fallen below expectations, with 103.6 million subs compared to the Wall Street prediction on 110 million.
While the fallout from the pandemic leads to a tough comparison with a year ago, The Walt Disney Co. delivered mixed results in its earnings Thursday, delivering revenue of $15.6 billion and an adjusted earnings per share of 79 cents.
Wall Street consensus had been for $15.93 billion in revenue, and an adjusted EPS of 27 cents.
Much of the the company’s growth continues to come from the streaming service Disney+, which now has 103.6 million subscribers, the company says. That is below the Wall Street consensus of 110 million subscribers.
Still, Disney’s direct-to-consumer business delivered revenue of $4 billion, up 59 percent from the same quarter a year ago. Disney’s linear networks unit, which includes ESPN and ABC, was down 4 percent from a year ago at $6.7 billion, while its theme parks and experiences division continues to face the toughest headwinds, down 44 percent to $3.2 billion.
- Hardcover Book
- Zahn, Timothy (Author)
- English (Publication Language)
- 576 Pages - 11/16/2021 (Publication Date) - Random House Worlds (Publisher)
