Walt Disney: Q3 well below consensus
(CercleFinance.com) - Walt Disney has reported a net loss of 4.
72 billion dollars for Q3 2019-20, or minus 2.61 dollars per share. Excluding extraordinary items, EPS plunged 94% to eight cents, missing the consensus by about 50 cents.
The entertainment giant saw its segment operating income fall by 72% to 1.1 billion dollars, with revenues down 42% to less than 11.8 billion dollars, in particular weighed on by the parks, experiences and products (-85%) and studios (-55%) segments.
The impact of Covid-19 and measures to prevent its spread are affecting its segments in many ways, the group said, highlighting the closure of theme parks and stores, as well as the suspension of cruises and guided tours.
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