Disney Fiscal reported Fourth Quarter Revenues Wednesday: After the bell. The company missed Wall Street estimates on the board, which saw sales fall more than 3% hours later.

  • Revenue per share- 37 cents adj. According to Renaissance, more than 51 cents is expected
  • Income $ 18.53 billion is expected from $ 18.79 billion, says Refinitive.

The company added 2.1 million Disney + subscribers to a total of 118.1 million, according to Disney estimates. During the Goldman Sachs Communecopyia Conference in September, CEO Bob Chapeck said the growth of the segment hit some headaches and Disney would increase its “low single digit million” subscribers in the fourth quarter.

However, Wall Street seems to be more aggressive than Chapeck. StreetAccount estimates that the company will report a total of 125.4 million Disney + subscribers by the fourth quarter, indicating 9.4 million new subscribers from the third quarter.

During the company’s revenue call, Chapeck reaffirmed the company’s goal of reaching 230 to 260 million Disney + subscribers by 2024.

“We are focused on managing our DTC business for a long time, not quarterly,” Chapeck said.

Disney + subscriber average monthly income decreased by $ 4.12, 9% year-over-year. The company is a mix of Disney + Hotstar subscribers compared to the previous quarter due to Dip.

Disney’s average consumer income has declined in recent quarters due to the low price points of Disney + and Hotstar in Indonesia and India. The service has a lower average monthly income than the traditional Disney + subscriber in other markets, which has reduced the overall quarterly average.

Overall, Disney reported 179 million subscriptions by Disney +, ESPN + and Hulu by the end of the fourth quarter. Revenue from consumer sectors rose by 38% to $ 4.6 billion. The average monthly income for ESPN + and Hulu has slightly increased.

Content sales and licensing revenues rose 9 percent to $ 2 billion.

During these three months, the company has released films such as “Black Widow”, “Free Guy” and “Shang-Chi and the Legend of the Ten Ring” with strong box-office results.

However, high operating costs and marketing costs caused the company’s content sales and licensing divisions to run $ 65 million during the quarter.

In addition, if much of Disney’s film and television production continues, the studio will continue to be disrupted by the epidemic.

“Fewer theatrical releases and production delays have limited film content to be sold in distribution windows after the release of the theater,” the company said.

As we look to the end of the year, Danny is expected to attract the much-anticipated Encantho and Spider-Man: No Way Home.

Disney talks about metavers

Chapeck was shaken by the company’s efforts to build its own “metverse” type of virtual reality, which many companies are investing in.

During the call, he said: “It is enough to say that our efforts to date are only an introduction to the physical and digital worlds that we can connect and communicate indefinitely.” .

“And we look forward to creating unparalleled opportunities for users to experience everything Disney has to offer on our products and platforms. We will see, and that will make us excited about Walt Disney Company over the next 100 years, ”Chapeck added.

Parks are beginning to show their return from the epidemic

With the increase in Covide-19 vaccines, Disney theme parks will see a meeting place in the second half of 2021.

The company’s Parks, Experiences and Products segment has generated positive operating revenue for the first time since the outbreak last quarter and has recently improved on those results.

All Disney International theme parks were open in the fourth quarter of the fiscal year, and all of its fleet began to sail. The business unit as a whole, which includes theme parks, hotels and goods, grew revenue by 26 percent to $ 5.45 billion.

In the 2021 budget year, Disney said the company has spent a total of $ 1 billion to comply with government regulations and increase safety measures for its employees and guests.

On Monday, the United States lifted travel restrictions that had prevented many international visitors from entering the country since early 2020.

Disney said international participation is looking forward to returning to local parks, but said he does not believe the traffic will have a significant impact on the company until the second half of 2022. Christine McCarthy, finance officer, said this was because of the long vacations. Planning lead times.

This is a growing story. Please check back for updates.

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