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

[Sirwalterraleigh]

Yes, that’s the point. Disney depends on guests from around the world and guests from those states. Current conditions in the US and specifically Florida, make it a dangerous, challenging, and sometimes impossible destination. Florida’s rising cases numbers and deaths have had a huge impact on the reopening.

I’m still a tad bit shocked we haven’t heard grumblings/pressure to the state. But little doubt they are occurring.

 

[rle4lunch]

 

[TTA94]

They need to find a way to bring back nighttime shows. I’m sure they can figure out some way to do it. Unless they are not allowed to by the state?

Also the cooler weather late this year into 2021 will help with mask wearing.

 

[WDW Pro]

Yes, that’s the point. Disney depends on guests from around the world and guests from those states. Current conditions in the US and specifically Florida, make it a dangerous, challenging, and sometimes impossible destination. Florida’s rising cases numbers and deaths have had a huge impact on the reopening.

You'll disagree, but I would say that's only true due to political gamesmanship.

 

[brb1006]

They need to find a way to bring back nighttime shows. I’m sure they can figure out some way to do it. Unless they are not allowed to by the state?

Also the cooler weather late this year into 2021 will help with mask wearing.

Doubt that will happen for a while now.

 

[brb1006]

 

[dmw]

and already 3 pages of comments...

 

[peter11435]

You'll disagree, but I would say that's only true due to political gamesmanship.

Which part?

Either way you’re being ridiculous

regardless of what is going on politically, 10k+ cases per day in Florida is a massive headache.

 

[DCBaker]

 

[HauntedPirate]

I don't know if I should be angry at this post or not...

You're just the other Bob's scapegoat.

 

[DCBaker]

Docs have been released -

https://thewaltdisneycompany.com/app/uploads/2020/08/q3-fy20-earnings.pdf

 

[DCBaker]

 

[HarrisburgMouse]

“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).

 

[ParentsOf4]

Parks, Experiences and Products revenue was $983M, down 85%.

The segment lost $1.96 Billion.

"We estimate the total net adverse impact of COVID-19 on segment operating income in the quarter was approximately $3.5 billion."

 

[Mouse Trap]

A profitable quarter.

So much discussion here about mismanagement, etc. and TWDC leadership managed to pull a rabbit out of their hats.

 

[Slpy3270]

So Disney actually made a meager earnings this quarter despite park closures and missing revenue, even after all the analysts predicted they'd lose money.

That's...not terrible? I was expecting them to miss everything.

And this is interesting: despite raising a lot of debt, current liabilities *decreased*, albeit slightly from last year.

 

[celluloid]

It was down 85 percent when closed. For sure that makes sense, but now they are open, with higher operating costs and having to pay their employees. Good luck.

 

[DCBaker]

Direct link to listen to the webcast -

https://edge.media-server.com/mmc/p/5yq3ptst

 

[Slpy3270]

Media Networks revenue only went down ~$200 million from last year despite loss of live sports.

They're not getting rid of that division anytime soon.

 

[DisneyOutsider]

A profitable quarter.

So much discussion here about mismanagement, etc. and TWDC leadership managed to pull a rabbit out of their hats.

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