The Walt Disney sales dip 22% to $16 bn in Q1 FY21

The Walt Disney, a mass media company also providing range of merchandised clothing, reported 22 per cent revenue decline to $16.2 billion in its first quarter (Q1) FY21 ended on January 2, 2021, compared to revenue of $20.8 billion in the same period prior fiscal. Company’s net income for the quarter plunged to $29 million (Q1 FY20: $2.1 billion).

 

The Walt Disney, a mass media company also providing range of merchandised clothing, reported 22 per cent revenue decline to $16.2 billion in its first quarter (Q1) FY21 ended on January 2, 2021, compared to revenue of $20.8 billion in the same period prior fiscal. Company's net income for the quarter plunged to $29 million (Q1 FY20: $2.1 billion).#

“We believe the strategic actions we’re taking to transform our company will fuel our growth and enhance shareholder value, as demonstrated by the incredible strides we’ve made in our DTC business, reaching more than 146 million total paid subscriptions across our streaming services at the end of the quarter,” Bob Chapek, chief executive officer, The Walt Disney Company, said in a press release.

 

The Walt Disney, a mass media company also providing range of merchandised clothing, reported 22 per cent revenue decline to $16.2 billion in its first quarter (Q1) FY21 ended on January 2, 2021, compared to revenue of $20.8 billion in the same period prior fiscal. Company's net income for the quarter plunged to $29 million (Q1 FY20: $2.1 billion).#

Disney media and entertainment distribution segment sales for Q1 FY21 slipped 5 per cent to $12.6 billion ($12.2 billion). However, direct-to-consumer & international revenues jumped 73 per cent to $3.5 billion ($2.0 billion). 

 

The Walt Disney, a mass media company also providing range of merchandised clothing, reported 22 per cent revenue decline to $16.2 billion in its first quarter (Q1) FY21 ended on January 2, 2021, compared to revenue of $20.8 billion in the same period prior fiscal. Company's net income for the quarter plunged to $29 million (Q1 FY20: $2.1 billion).#

“We’re confident that, with our robust pipeline of exceptional, high-quality content and the upcoming launch of our new Star-branded international general entertainment offering, we are well-positioned to achieve even greater success going forward,” Chapek said.