During early 2021, we got to listen in to Disney’s Q1 Earnings Call and read their earnings report for that quarter. We were able to learn about how the Walt Disney Company was affected by the closures and what financial losses had occurred during their first quarter of the 2021 fiscal year.

It’s been a few months since Disney has detailed its financial situation but now we’ve got some big updates from their  Q2 Earnings Report which has just been released. How is the company doing now? What losses or gains were reported during this last quarter? We’re breaking everything down that you need to know here!

Current Financial Standing

During the Q1 earnings call, Disney stated that its diluted earnings per share (EPS) from continuing operations for the quarter decreased 98% to $0.02 from $1.17 in the prior-year quarter.

In the Q2 Earnings report, Disney notes that “Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.50 from $0.26 in the prior-year quarter.”

Disney continues to note that it has been impacted by COVID-19, and that the most significant impact was at the Disney Parks, Experiences and Products segment as some parks are closed or operating at reduced capacity and cruise ship sailings have been suspended.

Disney Parks, Experiences & Products

When it comes to the Parks, Experiences & Products segment, Disney notes that “Disney Parks, Experiences and Products revenues for the quarter decreased 44% to $3.2 billion, and segment operating results decreased $1.2 billion to a loss of $406 million.”

Disney went on to say that they “estimate an additional $1.2 billion impact on the Disney Parks, Experiences and Products segment operating income compared to the prior-year quarter.”

Disney Media and Entertainment Division

In terms of its media and entertainment division, Disney saw significant improvements over the prior year’s quarter. Disney+ for instance has seen an over 200% increase in subscribers to 103.6 million.

That translates to a 74% increase in operating income for the segment from $1.651 billion to $2.871 billion.

We’ll continue updating you on everything that you need to know about the Walt Disney Company over the course of 2021. And, you can stay tuned with All Ears for the latest Disney news!

 

Was there anything that surprised you during the Q3 report? Let us know in the comments below!

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