Disney is about to host their Quarter Three Earnings Call to share where the Company currently stands financially. Ahead of the call, the company released their earnings for shareholders as well as the general public to read.
In the report, Disney has reported a $2 billion loss in operating income for the third quarter in their fiscal year 2020.
CNBC has reported that the quarter, despite massive losses, remained profitable. Despite this, the Company did see a significant hit to their bottom line. The quarterly report states, “The most significant impact in the current quarter from COVID-19 was an approximately $3.5 billion adverse impact on operating income at our Parks, Experiences and Products segment due to revenue lost as a result of the closures.”
The report also mentions bright spots for the Company. According to Disney, they now have “100 million paid subscribers across its streaming services.”
We will continue to monitor the earnings report and will update you as we learn more!
Are you tuning into today’s earnings call? Let us know in the comments!
Want to learn more about the Reopened Disney World?
- We’re Answering Your BIGGEST Questions About the Reopened Disney World!
- We Went to Magic Kingdom for Disney World’s Reopening — Here’s What You Need to Know!
- Everything You Need To Know About the Reopening of EPCOT!
- We Went to the Reopening of Disney's Animal Kingdom -- Here's What It Was Like!
- We Went to Disney’s Hollywood Studios for Its Reopening Day -- Here's What You Need to Know
- Here Are ALL the Changes and Cancellations That Disney World Just Implemented for Their Reopening!
- Everything You Need to Know About Disney World's Face Mask Policy
- Everything You Need to Know from Disney World's Reopening!
- We’re Answering Your BIGGEST Questions About Disney World’s New Disney Park Pass Reservation System!
- The Ultimate Guide to Disney World’s Relaxation Stations
- 6 Tips You Aren’t Thinking of for Your 2020 Disney World Trip
- Tips to Remember When Wearing a Face Mask in Disney World
- Here’s What It’s Like to Wear a Disney Face Mask All Day Long in Disney World!
- What You Need to Know About the Transportation Options at a Reopened Disney World