Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and restrictions. Meanwhile, earnings increased, reversing the recent trend, and exceeded expectations.
Revenues of the Burbank, California-based company dropped to $15.6 billion in the second quarter from $18.02 billion in the prior-year period and missed the Street view.
Second-quarter profit, excluding one-off items, rose to $0.79 per share from $0.60 per share last year. Analysts had forecast a decline. Unadjusted net income from continuing operations was $912 million or $0.50 per share, compared to $468 million or $0.26 per share in the second quarter of 2020.
DIS shares have increased about 64% in the past twelve months, mostly outperforming the market. They declined on Thursday evening soon after the company published the quarterly report.
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