Dow 30 Component, The Walt Disney Company (DIS), and its subsidiaries is a diversified worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media.
Disney reported Q4 earnings on Thursday beating estimates.
Key takeaways from the earnings report:
• EPS of $1.07 was reported versus 95 cents expected.
• Revenue of $19.1 billion was reported.
• The company’s media networks generated $6.5 billion in revenue for the quarter.
• Revenue of $6.7 billion was recorded for parks and resorts.
• Studio entertainment revenue recorded $3.3 billion for the quarter.
• The company witnessed declining tourism for Disney’s park in Hong Kong.
“Circumstances in Hong Kong have led to a significant decrease in tourism from China and other parts of Asia,” stated Christine McCarthy, CFO.
Disney released its earnings reports just before the launch of its streaming Disney+ service on November 12 featuring content from Disney, Pixar, Marvel, Star Wars and more. Disney+ to be distributed on Amazon’s Fire TV as well as through Samsung and LG smart TVs and will be available on Android, iPhone, iPad, Apple TV, and Roku devices.
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