The Walt Disney Company (NYSE: DIS) reported a net loss for the fourth quarter of 2020 as the entertainment giant’s revenues were impacted by the COVID-related disruption. However, the results beat the Street view.
Disney incurred an adjusted loss of $0.20 per share for the September-quarter, which indicates a deterioration from the year-ago period when the company recorded earnings of $1.07 per share. However, the latest number was better than the market’s projection.
Net loss from continuing operations was $710 million or $0.39 per share, compared to profit of $777 million or $0.43 per share in the fourth quarter of 2019. The weak bottom-line performance reflects a 23% decrease in revenues to $14.7 billion. Analysts were looking for a lower top-line number.
Shares of the company closed Thursday’s trading down 2%, paring a part of the recent gains. However, they regained strength soon after the earnings announcement. The stock has gained 30% in the past six months.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
The recent optimism about economic recovery waned slightly this week after jobless claims increased more-than-expected to about 778,000 amid concerns over a resurgence in coronavirus cases. With the healthcare system
Yunji Inc. (NASDAQ: YJ) Q3 2020 earnings call dated Nov. 26, 2020 Corporate Participants: Kaye Liu -- Investor Relations Director Shanglue Xiao -- Chairman of the Board of Directors and Chief Executive Officer Chen
Amazon Web Services (AWS), a leading cloud computing platform, went down in the morning hours of Wednesday. Many applications – including Anchor, Adobe Spark, Flickr, SiriusXM and Roku reported disruption