Bob Chapek, chairman of Walt Disney Parks and Experiences, speaks during a media preview of the D23 Expo 2019 in Anaheim, California, Aug. 22, 2019.
Patrick T. Fallon | Bloomberg via Getty Images
Disney reported mixed results for its Q2 2020 earnings after the bell on Tuesday. The stock was up slightly on the report. The coronavirus pandemic has disrupted Disney’s theme parks and cruise businesses but is expected to boost engagement on its newly-launched streaming service, Disney+.
Here’s what Disney reported:
- Earnings per share (EPS): 60 cents, ex-items
- Revenue: $18.01 billion
Wall Street had been anticipating earnings per share of 89 cents on revenue of $17.80 billion, based on Refinitiv consensus estimates. However, it’s difficult to compare reported earnings to analyst estimates for Disney’s second quarter, as the pandemic continues to hit global economies and makes earnings impact difficult to assess.
This is the first earnings report with Bob Chapek at the helm of Disney, after former CEO Bob Iger announced in February he would transition to the role of executive chairman. Iger had been expected to retire at the end of 2021, but told investors he decided to step down to focus on creative projects now that major undertakings like the Fox merger and launch of Disney+ were behind him.
This story is developing. Check back for updates.
Disclosure: Universal Studios theme parks are owned by NBCUniversal, the parent company of CNBC.