The corporation released effects for the third fiscal quarter, which ran from April to June. During the quarter, no visitors visited Disney’s national theme parks since the slow reopening of Walt Disney World did not begin until July 11. Films such as Disney’s Mulan, Marvel’s Black Widow and Pixar’s Soul have been postponed since the first spring and summer releases, expired summer and expired fall.
Disney reported that its actual profit for the quarter was $11.78 billion, while analysts estimated that the company earned $12.39 billion. The company reported diluted earnings consistent with the stock, with stocks falling 94% to $0.08 from $1.34 in last year’s quarter. Revenues have naturally declined as a result of the existing coronavirus pandemic compared to the same period in fiscal 2019. Disney reported a quarterly loss of approximately $5 billion.
This is especially true for Disney’s parks, reporting and product segment, where profits vary by 85%.
In a press release prior to the earnings call, Disney said, “The significant maximum effect of COVID-19 during the current quarter was a negative effect of approximately $3.5 billion on the operational source of profits from our parks, Segment Experiences and Earnings for Loss of Profit. Closures. »
Even when Disney CEO Bob Chapek announced numbers and statistics, Chapek made great announcements and concepts. Here are the 4 main themes of the call for results.
1. Disney: Has millions of new subscribers. Disney had 57.5 million subscribers at the end of the second quarter on June 29, 2020. Chapek also announced that Disney has 60.5 million international subscribers as of August 3, 2020. Disney will be available in nine of the world’s ten most sensitive economies by the end of 2020.
2. Mulan will make his Disney debut. Mulan will debut at Disney, in some markets on September 4 for $29.99. The value will vary slightly in other countries. A cinema premiere will take place in other countries where cinemas are open. Disney sees Mulan as a unique setting in terms of making blockbusters at a value at Disney.
3. There has been a positive net contribution from theme parks. At Walt Disney World and Shanghai Disneyland, there is a positive net contribution even if there is a park capacity limit. This means Disney makes cash while the parks are open, though perhaps not systematically. Disney is confident that the net positive contribution will increase as the number of Florida coronavirus improves. However, the benefits of reopening are lower than expected due to the increasing number of coronavirus cases in Florida. Approximately 50% of customers travel remotely and the remaining 50% comes from a local government market. Disney studios have indicated that the parks deserve to be in good condition once customer trust returns.
4. Disney’s new programming is turning to Marvel and Star Wars: new content is being developed to expand and continue to grow. Mandalorian Season 2 arrives in October. Chapek commented that there was a multitude of new Marvel content, adding Loki, WandaVision and The Falcon and the Winter Soldier. All Marvel systems are still on track to air at Disney, even though the systems have stopped production due to the coronavirus pandemic.
I am a theme park journalist who dreams of my next roller coaster ride, my first steps in a very immersive country or the tasting of the newest theme park.
I am a theme park journalist who dreams of my next roller coaster ride, my first steps in a very immersive country or try the newest cuisine of the theme park, whether worthy of Instagram or not. My paintings have given the impression in various media such as Popsugar, Insider, Reader’s Digest, TravelPulse, Buzzfeed, Observer, Family Vacation Critic, etc. Lately I’m visiting every Disney theme park around the world and sorting every single Disney park. snack you can buy. In addition to theme parks, I love cooking and baking for my family. You can continue my theme park adventures on Twitter on ‘megand513’ and Instagram @minglingwithmickey.