Not Such a Bad Year
$Disney(DIS.US)$ Judging by the subpar performance of DIS stock in 2021, you might be led to believe that Disney had a terrible year.
However, in a conference call, CEO Bob Chapek was quick to point out that Disney actually performed well, fiscally speaking.
As Chapek explained, Disney overcame the “many ongoing challenges” of the COVID-19 pandemic and ended the fourth fiscal quarter with adjusted earnings per share (EPS) of $0.37.
That’s a major improvement compared to the loss of $0.20 per share that Disney posted in the year-earlier quarter.
Moreover, Chapek cited his company’s total of 179 million subscriptions across Disney+, ESPN+, and Hulu. Clearly, Disney is becoming a streaming standout in the 2020s.
Additionally, as Chapek clarified, a significant event happened in late August of 2021: Disneyland Resort launched Magic Key, a new annual membership program. If COVID-19 concerns subside in the coming year, Magic Key could provide Disney with a significant revenue source.
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