Disney has reported that in Q3 2021, their earnings have been the best since before the pandemic.
From MarketWatch…
Disney DIS, +0.67% reported fiscal third-quarter net income of $918 million, or 50 cents a share, compared with a loss of $2.61 a share in the year-ago quarter. After adjusting for restructuring costs, amortization and other effects, the company reported earnings of 80 cents a share, compared with 8 cents a share a year ago. Revenue improved to $17.02 billion from $11.78 billion a year ago.
Analysts surveyed by FactSet had expected adjusted net income of 55 cents a share on revenue of $16.8 billion. Shares jumped 5% in after-hours trading Thursday following the release of the results, after gaining 0.7% to $179.29 in the regular session.
“We ended the third quarter in a strong position, and are pleased with the company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic,” Disney CEO Bob Chapek said in a statement.
Disney’s theme parks and product sales segment reported $4.34 billion in revenue, up from $1.07 billion a year ago when many parks were still closed and Walt Disney World was open in limited capacity. The average analyst estimate was $3.9 billion.
The company’s theatrical segment reported revenue of $1.7 billion, down 23% from last year and behind the analyst estimate of $2.07 billion. “Cruella” was the only major new movie Disney launched in Q3.
[Source: MarketWatch]
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