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The Walt Disney posts Q4 FY20 revenue of $14.7 bn
20 Nov '20
1 min read
Pic: Shutterstock
The Walt Disney, a mass media company, reported financial results for Q4 FY20 that ended October 3, 2020. The net revenue for the quarter slipped 23 per cent to $14.7 billion compared to revenue of $19.1 billion in the same period prior year. Company incurred a net loss from continuing operations of $710 million (Q4 FY19: profit $777 million).
“Even with the disruption caused by Covid-19, we’ve been able to effectively manage our businesses while also taking bold, deliberate steps to position our company for greater long-term growth,” Bob Chapek, chief executive officer, The Walt Disney Company, said in a press release. “The real bright spot has been our direct-to-consumer business, which is key to the future of our company.”
Company’s direct-to-consumer & international revenues for Q4 FY20 jumped 41 per cent to $4.8 billion ($3.4 billion). Media networks sales were up 11 per cent to $7.2 million ($6.5 million).
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