Disney Earns 60 Cents per Share

Disney (DIS) reported Q1 earnings of 60 cents per share. That was well below expectations of 88 cents per share. The company will also forego its semi-annual dividend payments.

The Walt Disney Company today reported earnings for its second fiscal quarter ended March 28, 2020. Diluted earnings per share (EPS) from continuing operations for the quarter decreased 93% to $0.26 from $3.53 in the prior-year quarter. Excluding certain items affecting comparability(1), diluted EPS for the quarter decreased 63% to $0.60 from $1.61 in the prior-year quarter. EPS from continuing operations for the six months ended March 28, 2020 decreased 73% to $1.44 from $5.42 in the prior-year period. Excluding certain items affecting comparability, EPS for the six months decreased 38% to $2.14 from $3.45 in the prior-year period. Results in the quarter and six months ended March 28, 2020 were adversely impacted by the novel coronavirus (“COVID-19”) pandemic.

Disney estimates a revenue loss of $1 billion at its parks and a total hit of $1.4 billion. Disney’s last dividend was for 88 cents per share.

Posted by on May 5th, 2020 at 4:10 pm


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