Disney's Earnings Jump 45% to $17.02 Billion, Subscriptions Rise.
Here's to Disney plus 116 Million subscriptions delivered to your Airbnb by the Doordash crew!
Hey Hisa Fan,
Walt Disney, one of the world’s largest entertainment companies, released their financials, beating analyst estimates, after market close on Thursday.
The financials, which were disney’s third-quarter (for the fiscal year), showed that live streaming of their movies had grown significantly with Disney plus getting to top 116 million subscribers.
In revenue, Disney posted an earnings performance of $17.02 Billion up from analysts average of $16.76 Billion. This was backed by the increased number of subscribers on Disney’s main channels: Disney+ which was the main revenue generator, with Hulu and ESPN coming in second.
Disney’s World was also on the plus, with the centres in Shanghai, Florida and Orlando being open every day in the past quarter. This was a major boost since Disney Worlds; the company’s thematic parks; had been closed for the major parts of the first two quarters.
However, not all was good as the direct-to-consumer division, which includes Disney+, reported a loss of $293 million as it invested in TV shows, movies and other costs. That compared to a loss of $624 million a year earlier.
In after close trading, Disney’s shares jumped 4% with a huge demand growing as analysts now terming the company as a growing & best competitor to Netflix.
What else were we looking at?
Airbnb - Not for a house you! Airbnb also released their financials, indicating that Q2 earnings were better than expected. The company’s earnings grew 299% from a year ago at $1.3 Billion in 2Q2021 from the $355 Million posted a year ago.
The company’s outlook however was dim, with the CFO indicating that they expect a decline in earnings for the third quarter as delta variant could once again dampen global travel.
DoorDash - Imagine money for just delivering stuff to people’s doors? Doordash had a whopping $10.46 billion in order value! Despite the order value, Doordash overall performance was a loss, with the company posting a net loss of $102 million.
It’s a wrap for us, don’t worry tomorrow is another day!
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