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Jun 27, 2020
Disney Q3 2020 Earnings Report
Disney's Q3 2020 earnings were impacted by COVID-19, but saw growth in direct-to-consumer business.
Key Takeaways
Disney reported a loss of $2.61 per share, or $0.08 excluding certain items, as revenue declined 42% due to the impact of COVID-19 on parks, experiences, and studio entertainment. However, the company's direct-to-consumer business, particularly Disney+, saw significant growth, exceeding 100 million paid subscriptions across its portfolio.
Diluted EPS from continuing operations was a loss of $2.61, compared to income of $0.79 in the prior-year quarter.
Excluding certain items, diluted EPS decreased 94% to $0.08 from $1.34 in the prior-year quarter.
Revenues decreased 42% to $11.78 billion.
The global reach of Disney's direct-to-consumer services now exceeds 100 million paid subscriptions.
Forward Guidance
The document does not contain specific forward guidance. It does contain forward looking statements regarding business prospects and estimates of expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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