Disney also recently launched “Muppets Now” on Disney+ and the Beyoncé visual album “Black is King.”. Interest expense, net was as follows (in millions): The increase in interest expense was due to higher debt balances as a result of the TFCF acquisition. A wide range of narrative and documentaries highlights to watch for at the first virtual Sundance Film Festival. The average revenue per subscriber is net of discounts offered on bundled services. Capital Expenditures and Depreciation Expense. The decrease in advertising revenue was due to lower average viewership. Revenues $ 19,100 $ 14,306. The discount is allocated to each service based on the relative retail price of each service on a standalone basis. However, Disney+ will get a boost in October when its hit “The Mandalorian” returns for a second season, which was filmed before COVID-19 roiled the industry. Here’s what I learned. Goldston’s exit follows the ouster of business affairs chief Barbara Fedida. Affiliate revenue growth was due to an increase in contractual rates, partially offset by a decrease in subscribers. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. The Burbank entertainment giant posted a net loss of $4.72 billion for the three months that ended in June, Disney said Tuesday. Revenue was $1.74 billion, down 55%. Hulu’s paid subscribers as of December 29, 2018 and average monthly revenue per paid subscriber for the quarter ended December 29, 2018 are not reflected in the Company’s prior-year quarter revenues. The decrease in subscribers was net of the impact of the ACC Network. Analysts polled by FactSet on average had expected a loss of 64 cents a share. Equity in the income of investees increased from $179 million in the prior-year quarter to $193 million in the current quarter primarily due to higher income from A+E Television Networks driven by lower programming costs and higher advertising revenue. With no new theatrical releases, the company’s film studio generated $668 million in operating income, down 16% year over year. Net (income) loss attributable to noncontrolling interests was as follows (in millions): Net (income) loss from continuing operations attributable to noncontrolling interests. Growth at our domestic parks and resorts was due to higher guest spending and, to a lesser extent, increased attendance, partially offset by higher costs. The decrease at ESPN was due to an increase in programming and production costs and lower advertising revenue, partially offset by higher affiliate revenue. The stock jumped around on the news of … Disney annual revenue for 2019 was $69.607B, a 17.12% increase from 2018. Income from continuing operations before income taxes $ 1,258 $ 3,202 (61)% $ 13,944 $ 14,729 (5)% Total segment operating income (1) $ 3,436 $ 3,277. The discussion will be archived. Revenue per paid subscriber is calculated based upon the average of the monthly average paid subscribers for each month in the period. The monthly average paid subscribers is calculated as the sum of the beginning of the month and end of the month paid subscriber count, divided by two. The news business operates in a marketplace that offers penalties for reporting the news but lots of rewards for indulging a consumer’s worst cravings. Can studios compete with streaming services to buy this year’s Sundance hits? Find out the revenue, expenses and profit or loss over the last fiscal year. The following table reconciles reported diluted EPS from continuing operations to diluted EPS excluding certain items affecting comparability for the first quarter: Amortization of TFCF and Hulu intangible assets and fair value step-up on film and television costs(4), Excluding certain items affecting comparability. Mar 19, 2020 at 8:54AM ... investors may not fully understand Walt Disney's revenue breakdown. Mar 16, 2020 at 9:44AM ... Walt Disney is ... with $211 million coming from lost ad revenue and $168 million lost due to a 2% decline in earnings. Get the annual and quarterly balance sheet of Walt Disney Company (The) (DIS) including details of assets, liabilities and shareholders' equity. The Company believes that information about total segment operating income assists investors by allowing them to evaluate changes in the operating results of the Company’s portfolio of businesses separate from non-operational factors that affect net income, thus providing separate insight into both operations and the other factors that affect reported results. Sales (Revenue) 5 … In conjunction with this release, The Walt Disney Company will host a conference call today, February 4, 2020, at 4:30 PM EST/1:30 PM PST via a live Webcast. However, the media and entertainment titan did better in terms of profit than analysts expected, thanks in part to growth in its TV and streaming businesses. Disney+ average monthly revenue per paid subscriber for the quarter ended December 28, 2019 is calculated using a daily average of paid subscribers for the period beginning at launch and ending on the last day of the quarter. In November 2019, the Company began offering a bundled subscription package of Disney+, ESPN+ and Hulu. The average monthly revenue per paid subscriber for our Hulu Live TV + SVOD service increased from $52.31 to $59.47 due to higher retail pricing. He previously wrote for the Los Angeles Business Journal and Bloomberg News. after deduction of noncontrolling interests. Sales (Revenue) Q/Q (Last Year)-23.15. These increases were partially offset by a benefit from the inclusion of the TFCF businesses due to income at the international channels including Star. Broadcasting revenues for the quarter increased 34% to $2.6 billion and operating income increased 41% to $575 million. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. Walt Disney World in Florida — where, despite surges in cases, the government has loosened restrictions on the economy faster than in many other states — reopened last month with limited capacity and strict protocols to limit the risk of spreading the coronavirus. Investments in parks, resorts and other property were as follows (in millions): Total investments in parks, resorts and other property. U.S. federal income tax legislation, the “Tax Cuts and Jobs Act” enacted in fiscal 2018. Analysts expected Disney to report earnings of about $1.16 a share on $13.52 billion in revenue, according to a consensus estimate from Thomson Reuters. The decrease in ABC Studios program sales was driven by the comparison to the prior-year sale of The Punisher. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding. The increase in theatrical distribution results was due to the performance of Frozen II and Star Wars: The Rise Of Skywalker in the current quarter compared to Ralph Breaks the Internet in the prior-year quarter. Operating income growth for the quarter was due to increases at merchandise licensing and domestic parks and resorts, partially offset by lower results at our international parks and resorts. The decrease in equity losses at Direct-to-Consumer & International was due to the consolidation of Hulu and, to a lesser extent, the inclusion of income from TFCF’s equity investments. https://www.cnbc.com/2020/11/12/disney-dis-q4-2020-earnings.html A Disney+ subscription costs $7 a month on its own, and $13 a month when bundled with Disney’s other digital offerings, Hulu and ESPN+. Investor Relations These researchers predicted California’s COVID-19 surge. Disney market cap as of January 27, 2021 is $311.85B . achievement of anticipated benefits of the TFCF transaction. Operating results at the TFCF businesses reflected income from TV/SVOD distribution, which was more than offset by a loss from theatrical distribution and general and administrative costs. Disney annual gross profit for 2018 was $26.708B, a 7.56% increase from 2017. BURBANK, Calif.–. EPS excluding certain items affecting comparability, total segment operating income and free cash flow are non-GAAP financial measures. Unions say commercial shoots in L.A. can resume as pandemic restrictions ease. As COVID-19 rages in Florida and California, what does it mean that Disney World is open while Disneyland remains closed even for its 65th birthday? During the quarter, the Company recorded charges totaling $150 million, primarily for severance, in connection with the integration of TFCF. The Company evaluates the performance of its operating segments based on segment operating income, and management uses total segment operating income as a measure of the performance of operating businesses separate from non-operating factors. Why the Emmy nominations surprise ‘The Mandalorian’ is a win for Baby Yoda (and Disney+). Corporate Communications The average monthly revenue per paid subscriber for ESPN+ decreased from $4.67 to $4.44 due to a shift in the mix of subscribers to our bundled offering. Diluted earnings per share (EPS) from continuing operations for the quarter decreased 37% to $1.17 from $1.86 in the prior-year quarter. The Walt Disney Company (NYSE: DIS) today reported earnings for its first fiscal quarter ended December 28, 2019. "We're very … The increase in operating loss at ESPN+ was primarily due to higher programming costs, primarily for Ultimate Fighting Championship (UFC) rights, and an increase in marketing spend, partially offset by subscriber revenue growth and UFC pay-per-view fees. Earnings per share attributable to Disney(1): Weighted average number of common and common equivalent shares outstanding: (1) Total may not equal the sum of the column due to rounding. He holds a master’s in journalism from USC’s Annenberg School and a bachelor’s in English from UC Santa Barbara. Diluted earnings per share (EPS) from continuing operations for the quarter decreased 37% to $1.17 from $1.86 in the prior-year quarter. Marvel’s “Falcon and the Winter Soldier,” for example, was delayed. Results : Disney earnings came in 8 cents a share while revenue tumbled 42% to $11.78 billion. The division’s operating loss was $1.96 billion, compared with a profit of $1.72 billion during the prior-year third quarter. Q/Q (Last Year)-192.33-16.42. Corporate and unallocated shared expenses increased $76 million from $161 million to $237 million for the quarter primarily due to higher compensation costs and the absence of a benefit from amortization of a deferred gain on a sale leaseback due to the adoption of new lease accounting guidance, partially offset by lower costs related to TFCF. Actual results may differ materially from those expressed or implied. Certain statements in this earnings release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements such as expectations regarding our future growth and other statements that are not historical in nature. The decrease in costs related to TFCF was due to lower acquisition-related professional fees, partially offset by the consolidation of TFCF. Management believes that information about free cash flow provides investors with an important perspective on the cash available to service debt obligations, make strategic acquisitions and investments and pay dividends or repurchase shares. Praise Baby Yoda, Disney+ breakout Star Wars hit ‘The Mandalorian’ nabbed an Emmy nomination for drama series (and 14 more). Tax benefit/expense is determined using the tax rate applicable to the individual item. In May, the service had 54.5 million paying customers. COVID-19 pandemic causes 25-year low in L.A. filming. Here’s when they think it will end. Analysts had estimated $12.39 billion in revenue. Commencing March 20, 2019, as a result of our acquisition of a controlling interest in Hulu, 100% of Hulu’s revenues and expenses are included in the Direct-to-Consumer & International segment. Compare DIS With Other Stocks. games as both leagues postponed their seasons. Disney Revenues by Business Segment FY’14. “While the surge in COVID-19 cases gives us some pause, Disney seems well poised to gradually tap into pent-up demand amid a phased reopening of parks, and a gradual return of live sports events,” Amobi wrote in a note to clients. Excluding certain items affecting … Disney annual gross profit for 2019 was $27.546B, a 3.14% increase from 2018. A subscriber ceases to be a paid subscriber as of their effective cancellation date or as a result of a failed payment method. Hollywood faces another fight over movie profits as the producers of the iconic “Friday the 13th” fight over the spoils from the franchise. The comparable GAAP measures are diluted EPS from continuing operations, income from continuing operations before income taxes, and cash provided by continuing operations, respectively. vs. $0.89 estimated Disney reported mixed results for its Q2 2020 earnings after the bell on Tuesday. AT&T also disclosed that it took at $15.5-billion charge due to the losses at DirecTV satellite business, which has seen heavy losses to cord-cutting. Disney closed its domestic parks and Disneyland Paris in mid-March amid growing public health concerns surrounding the coronavirus. Diluted earnings per share decreased 94%. The following table presents a summary of the Company’s consolidated cash flows (in millions): Cash provided by operations – continuing operations, Cash used in investing activities – continuing operations, Cash used in financing activities – continuing operations, Cash used in operations – discontinued operations, Impact of exchange rates on cash, cash equivalents and restricted cash, Change in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Hong Kong Disneyland reopened in June, but shut down again last month because of a rise in coronavirus cases. The increase in net income attributable to noncontrolling interests was primarily due to accretion of the fair value of the redeemable noncontrolling interest in Hulu and growth at Shanghai Disney Resort. I’m so glad you’re closed. Walt Disney Co. suffered a major decline in earnings in its third fiscal quarter, illustrating the severe damage dealt to the world’s most powerful entertainment company by the COVID-19 pandemic, which has kept Disneyland closed, cratered global tourism and delayed movie releases for months. Parks, Experiences and Products revenues for the quarter increased 8% to $7.4 billion, and segment operating income increased 9% to $2.3 billion. History and chart from 2006 to 2020 FY ’ 14 ( fiscal year ended September 27, 2014 ) is. 42 % from a year earlier L.A. 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