For the first time in over forty years, Disney has reported an annual net loss.
Disney reported fiscal fourth-quarter losses Thursday of $710 million, or 39 cents a share, its second consecutive quarterly loss on a GAAP basis. Disney had not previously reported a quarterly loss since April 2001, when a large charge for the shuttering of the Go.com online platform effort caused it to go into the red.
For the full fiscal year, Disney recorded a GAAP net loss of $2.83 billion. Disney has not reported an annual GAAP loss in FactSet records that date to 1980, and has not reported two consecutive quarterly losses on records dating back to 1996.
You can read the full Qfinancial results here.
Source: Market Watch
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How can they be making 14 billion profit and yet still be 200 million loss ?
Don’t make sense
$14 billion in revenue, not profit. Revenue is before expenses, while profit is after expenses.
Net vs gross income?
Revenue and Profit are not the same, my friend. Revenue is how much money came in overall. Profit is Revenue minus Cost. The 14.7 Billion was how much money they made, but the 200 million dollar loss effectively says they spent 14.9 B to make 14.7 B.
the profit is based on what they sold to date (resort reservations, Merch at park, Dining), they make an average of 50% markup on everything they provide to the consumer.
for example a shirt costs them $3 to make, they sell it for $34.99 at the parks thats actually 1000% margins.
the loss that theyre claiming is from their forecast , for example they forecasted that they would gross 700 million this quarter , but the actual due to social distancing/covid was 500 million. Hence the loss from not meeting their projection.
Bottom line is despite all their crying, they are making bank!!!
I’m glad they are not making money