Disney Announces First Quarter Earnings Report!

  Earnings Report-Disney Announces First Quarter Earnings Report! Earnings meeting in February, CEO Bob Chapek said that wearing masks and social distancing …. Disney ( DIS (NYSE) $185.41 +0.57(+0.31%)will announce its earnings report for the first quarter of 2021. The entertainment giant, serving in different fields, has both benefited and harmed the social distancing standards caused by the epidemic. In this context, as the company's Disney + streaming service improved, larger and more lucrative amusement parks suffered. In early March, Disney reported that Disney + had surpassed 100 million subscribers for the first time, marking this milestone just 16 months after its launch in late 2019. This rapid growth has made the company a formidable competitor for Netflix NFLX (NasdaqGS) $498.12 -5.72(-1.14%)which has over 208 million subscribers worldwide. However; Netflix's first quarter results heralded a possible slowdown for Disney + and other streaming services as consumers began to turn to face-to-face entertainment. Netflix added only 3.98 million paid subscribers in the first quarter, below expectations of 6,3 million. Even though consumers are spending more time outside and away from the screens this year, Disney + seems to have a lot of room to grow.

Earnings meeting in February, CEO Bob Chapek said that wearing masks and social distancing …

In a statement made by the Disney management in March, it was noted that Disney + could reach 230 million to 260 million global subscribers by the end of fiscal year 2024. The segment that includes Disney + lost $ 2,8 billion in fiscal 2020. However, many on Wall Street are hoping that as vaccination increases, Disney will release a nicer look for its amusement parks. Disneyland Paris and Disneyland in Anaheim, California, and California Adventure remained closed during Disney's fiscal second quarter. This means the company will see a huge loss in its new report. However, Disney's California theme parks reopened in late April with some social distance restrictions. This opening made us think that the company could begin to take a step back towards profitability. In the company's latest earnings meeting in February, CEO Bob Chapek said that wearing masks and social distancing will continue in Disney's parks at least until the end of this year. Overall, Wall Street wants Disney to publish its adjusted earnings of 28 cents per share on revenue of $ 15.85 billion. Disney shares rose 1,7 % year-to-date, underperforming the S&P 500's 12,5 % earnings at the time. Earnings meeting in February, CEO Bob Chapek said that wearing masks and social distancing ….  

Source: finance.yahoo.com

 

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