This quarter, Disney+ has 60.5 million paying users worldwide.
After the US stock market on Tuesday, Disney released its third fiscal quarter performance report as of June 27, 2020.
The report shows that in the third fiscal quarter, Disney’s revenue was US$11.78 billion, down 42% year-on-year, which was less than market expectations; the net loss was US$4.718 billion, the market expected a loss of US$1.208 billion, and a profit of US$1.43 billion in the same period last year. Adjusted earnings per share were US$0.08, and the market expected a loss of US$0.63.
After the earnings report was released, Disney’s stock price rose more than 4% after the market.
Disney’s revenue mainly comes from four departments, media network business (including cable TV and broadcasting), theme park business, film and television entertainment business, and direct-to-consumer business And international business (including Disney+, ESPN+, Hulu services, etc.).
In the third fiscal quarter, Disney’s media network business revenue was $6.562 billion, a year-on-year decrease of 2%. The theme park business revenue was US$983 million, a sharp drop of 85% year-on-year. The revenue of film and television entertainment business was US$1.738 billion, down 55% year-on-year. And Direct-to-consumer and international business is the only segment where Disney has achieved revenue growth, which increased by 2% year-on-year to US$3.969 billion.
Picture source: Disney official
Disney mentioned in its financial report that the global epidemic is having an impact on many of its business units, of which theme park business has the greatest impact. Since during the epidemicthemed parks and retail stores closed, the department’s operating loss for the quarter was US$1.96 billion. Earnings of 1.719 billion US dollars in the same period last year