The Walt Disney, a mass media company also providing a range of merchandised clothing, reported 13 per cent revenue decline to $15.6 billion in its second quarter (Q2) FY21 ended on April 3, 2021, compared to revenue of $18.0 billion in the corresponding quarter prior fiscal. The company’s net income for Q2 FY21 rose to $901 million (Q2 FY20: $460 million).
“We’re pleased to see more encouraging signs of recovery across our businesses, and we remain focused on ramping up our operations while also fuelling long-term growth for the company,” Bob Chapek, chief executive officer at The Walt Disney Company, said in a press release.
“This is clearly reflected in the reopening of our theme parks and resorts, increased production at our studios, the continued success of our streaming services, and the expansion of our unrivaled portfolio of multiyear sports rights deals for ESPN and ESPN+,” Chapek added.
Disney media and entertainment distribution segment sales marginally grew 1 per cent to $12.4 billion ($12.3 billion). However, Disney parks, experiences and products segment revenue for Q2 FY21 dropped 44 per cent to $3.1 billion ($5.6 billion).
Fibre2Fashion News Desk (JL)
The Walt Disney, a mass media company also providing a range of merchandised clothing, reported 13 per cent revenue decline to $15.6 billion in its second quarter (Q2) FY21 ended on April 3, 2021, compared to revenue of $18.0 billion in the corresponding quarter prior fiscal. The company's net income for Q2 FY21 rose to $901 million (Q2 FY20: $460 million).