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Disney Releases Q2 Earnings As Streaming Subscribers Grow – $DIS $DIA

By John F. Heerdink, Jr.

As per reports, the Walt Disney Company (DID) reported stronger-than-expected growth in streaming subscribers across all of its media platforms, but raised concerns over the impact of Covid on its theme parks in Asia. Total Disney+ subscriptions increased to 137.7 million during the fiscal second quarter, higher than the 135 million analysts had forecast.

Earning Highlights:

  • Adjusted Earnings per share of $1.08 were reported.
  • Revenue of $19.25 billion was reported, including a $1 billion reduction resulting from the early termination of some licensing agreements.
  • Disney+ total subscriptions of 137.7 million were reported versus 135 million expected.
  •  Average revenue per user (ARPU) for domestic Disney+ subscribers was up 5% to $6.32.
  • Disney’s parks, experiences, and products segment witnessed revenues more than double to $6.7 billion during the quarter, compared to the prior-year period, fueled by increased attendance, hotel bookings, and cruise ship sailings, as well as higher ticket prices and higher, spend on food, beverage, and merchandise.
  • Disney said its domestic parks are beginning to see the return from international travelers, but not at pre-pandemic levels.
“Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services — with 7.9 million Disney+ subscribers added in the quarter and total subscriptions across all our DTC offerings exceeding 205 million once again proved that we are in a league of our own,” stated CEO Bob Chapek.

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. To learn more about this Dow 30 Component, The Walt Disney Company (DIS), and to continue to track its progress please visit the Vista Partners Walt Disney Company, Coverage Page.

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(Read Original Story: Disney shares slip after earnings report, as Covid closures take a toll on parks in Asia in CNBC)


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