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

[brb1006]

Getting my popcorn ready for the earnings report that will start in just a few minutes.

 

[MisterPenguin]

Music playing: Burying the Bone, from the recent short: Out.

 

[Slpy3270]

Not quite the judgment day that some of the more noisy users here were rooting for.

On the other hand, an 85% drop from the Parks and Experiences division isn't anything to sneeze at.

 

[mguimond1990]

“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+.

 

[MisterPenguin]

Now Playing: See You on the Other Side, from the Iron Man VR game.

 

[buffaloclyde]

Better than the 94% drop Universal Parks & Resorts experienced. Stock is actually up after hours now.

 

[DisneyOutsider]

On the other hand, an 85% drop from the Parks and Experiences division isn't anything to sneeze at.

Of course not... but any undergrad finance dummy could have told you that was coming.

 

[UpAllNight]

I’m surprised they’re only down 85% when you consider how they usually cram people in.

 

[HarrisburgMouse]

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

That includes HULU and ESPN+. Still, stronger than anticipated.

 

[ParentsOf4]

"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]

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

Includes Hulu and ESPN+.

 

[WEDway Inc & Company LLC]

This music screams "danger is imminent"

 

[buffaloclyde]

I’m surprised they’re only down 85% when you consider how they usually cram people in.

I think they lumped in Consumer Products with the Theme Park numbers so you have merchandising sales in there too.

 

[Slpy3270]

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.

 

[Clamman73]

Sounds ominous

 

[brb1006]

That music is so fitting.
Edit: Now Olaf just ruined the mood.

 

[britain]

 

[UpAllNight]

If I buy a hotel and ticket package in Q3, for Q1 in 2021, is that revenue recorded in Q3 or Q1? I’m guessing Q3?

 

[Notes from Neverland]

The "This will make sense when I'm older" song is actually quite fitting.

 

[hopemax]

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.