Walt Disney Co Earnings Report (Q4 2021 and Fiscal Year)

Disney misses revenue and earnings per share estimates as Disney+ subscriber growth slows.
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Disney

Walt Disney Co have released their financial reports for Q4 2021 and the fiscal year. Here’s what they reported:

Revenue came in at $18.53 billion (vs $18.79 billion expected). In Q3 2020, the company reported revenues of $14.7 billion, a 26% increase year on year.

Diluted earnings per share (EPS) came in at $0.37 (vs $0.51 expected). In Q3 2020 EPS was $0.20.

Paid subscribers of Disney+, the company’s streaming service, came in at 118.1 million, with analysts estimating a figure of around 125.4 million. Despite this, the numbers reflect a growth of 60% year on year.

Bob Chapek, the Chief Executive Officer of The Walt Disney Company, said:

“This has been a very productive year for The Walt Disney Company, as we’ve made great strides in reopening our businesses while taking meaningful and innovative steps in Direct-to-Consumer and at our Parks, particularly with our popular new Disney Genie and Magic Key offerings”

“As we celebrate the two-year anniversary of Disney+, we’re extremely pleased with the success of our streaming business, with 179 million total subscriptions across our DTC portfolio at the end of fiscal 2021 and 60% subscriber growth year-over-year for Disney+. We continue to manage our DTC business for the long-term, and are confident that our high-quality entertainment and expansion into additional markets worldwide will enable us to further grow our streaming platforms globally”

Shares of Walt Disney Co fell $5.88 (3.24%) in extended trading, and now stands at a price of around $168.65.

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