Walt Disney Company increased fourth quarter earnings by $20.86 billion

Walt Disney Company increased fourth quarter earnings by $20.86 billion

- Disney has released details of its fourth quarter earnings which show an increased revenue of $20.86 billion

- The company's earnings per share for the period was $1.53 per share, beating the $1.46 projection announced by analysts

- About 10 million people immediately signed up for Disney+ when it was launched on Tuesday, 12 November, 2019

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The fourth-quarter earnings of The Walt Disney Company, the American multinational mass media and entertainment conglomerate, have been released.

Information available shows that the subscribers for its new Disney+ streaming service shot up to over 26 million and the monthly revenue per paid subscriber was $5.56.

Briefly.co.za understands that the company’s shares increased by about 2% soon after its release but this soon changed.

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Disney releases details of fourth-quarter earnings; says subscribers are now over 26 million

Source: Yahoo Finance
Source: UGC

Yahoo Finance reports that Disney set a five-year goal of 60 million to 90 million subscribers for the streaming service worldwide.

According to the chairman and chief executive officer of the company, Robert Iger, "we had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations."

Disney registered a $1.53 per share, beating the $1.46 projection announced by analysts ahead of the release of the details by 4.8%.

Its quarterly revenue was also $20.86 billion, beating the Wall Street's $20.78 billion estimate.

About 10 million people signed up right away for Disney+ when it was launched on Tuesday, November 12, 2020, though some were on a free offer for customers of Verizon Communications Inc.

The service also likely picked up a number of subscribers because of the buzz around its first hit series, The Mandalorian.

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Source: Briefly.co.za

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