Disney's FY20 Q3 Earnings (8/4/20)

brb1006

Well-Known Member
Original Poster
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Getting my popcorn ready for the earnings report that will start in just a few minutes.
 

mguimond1990

Well-Known Member
“Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer businesses,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “The global reach of our full portfolio of direct-to-consumer services now exceeds an astounding 100 million paid subscriptions -- a significant milestone and a reaffirmation of our DTC strategy, which we view as key to the future growth of our company.”

100 million paid subscriptions... that's the bright spot here (for shareholders).

what is the “full portfolio of direct to consumer services” ?...100mil subscriptions can’t all be Disney+.
 

ParentsOf4

Well-Known Member
"Capital expenditures decreased from $3.6 billion to $3.3 billion driven by lower spending at our domestic parks and resorts primarily due to a decrease in spending on Star Wars: Galaxy’s Edge at both the Walt Disney World and Disneyland resorts, partially offset by higher spending on technology to support our direct-to-consumer services and on corporate facilities. Capital spending in the current period also reflected the suspension of certain capital projects as a result of COVID-19."

Capex over the next 12 months should be interesting.
 

Slpy3270

Well-Known Member
The only thing that concerns me is that Disney+ has 57.5 million subscribers rather than 59 million as predicted by Wall Street.

Subscriber growth beginning to slow.
 

hopemax

Well-Known Member
I think they lumped in Consumer Products with the Theme Park numbers so you have merchandising sales in there too.
Exactly. Actual P&R results are likely the same 90%+ as the other guys, but CP gave them just enough buoys that they look better by comparison. Especially, to the more casual observer who isn't really paying attention to CP being in there now.
 

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