#Disney #Disneyearnings #Disneystock Disney (DIS) swung to a fourth-quarter loss and saw revenue slide over last year, as the still-raging coronavirus pandemic continued to weigh on its theme parks, studio and media businesses. However, the results still came in better-than-feared, and the company’s nascent streaming service saw subscribers jump more than anticipated. Shares jumped 5.9% in after-hours trading. Here were the main results from Disney’s fiscal fourth-quarter report, compared to consensus estimates compiled by Bloomberg: Q4 revenue: $14.71 billion vs. $14.20 billion expected and $19.1 billion year-over-year Q4 adjusted loss per share: 20 cents vs. 73 cents expected versus earnings of $1.07 per share year-over-year Given the impact of the pandemic on many of Disney’s legacy businesses, investors were poised to focus closely on growth at Disney+, the company’s one-year-old streaming service. Disney reported that Disney+ had brought on 73.7 million subscribers as of the end of the fourth quarter, topping estimates for 65.5 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,” Disney CEO Bob Chapek said in a statement. “The real bright spot has been our direct-to-consumer business, which is key to the future of our company, and on this anniversary of the launch of Disney+ we’re pleased to report that, as of the end of the fourth quarter, the service had more than 73 million paid subscribers – far surpassing our expectations in just its first year.” Stay-in-place orders during the pandemic have helped boost engagement on Disney’s and other media company’s streaming platforms. While still trailing Netflix’s (NFLX) global subscriber base of nearly 200 million, Disney+’s breakneck growth in part led Disney to announce a major reorganization in October to help get more premium content straight to consumers through streaming. The new structure put Disney’s creators together under one unit to generate studio, general entertainment and sports content, while leaving another unit to focus on distribution to determine which platform to use to release the content, whether on Disney+ or another of the company’s streaming platforms, on TV or in theaters. The restructuring was announced after the end of Disney’s fiscal fourth quarter, so any tangible results of these changes will come in the report for the current quarter. However, Disney did release its live-action Mulan during the September quarter directly to Disney+ at $30 per month, circumventing the issue of pandemic-induced theater closures and presaging Disney’s latest strategic direction. Still, Disney+ remains a money-losing operation. Disney’s direct-to-consumer and international segment, which houses the streaming service, posted operating losses of $580 million during the quarter, while revenue jumped 41% to nearly $4.9 billion. Parks pain While Disney+ continues to grow, Disney’s other units have suffered considerably during the pandemic. Disney’s parks, experiences and products segment has been the hardest-hit by the pandemic. Disney’s parks unit swung to an operating loss of $1.1 billion as revenue dropped 61% over last year, amid ongoing closures at Disney’s theme parks in California and Paris and still-weak attendance even at locations that have reopened. Still, the loss narrowed from the nearly $2 billion deficit the business unit posted during the Disney’s fiscal third quarter through June. For more on this article please visit: https://finance.yahoo.com/news/disney-reports-q4-2020-earnings-results-disney-plus-streaming-pandemic-143227077.html Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. About Yahoo Finance Premium: With a subscription to Yahoo Finance Premium, get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Premium please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz Follow Cashay.com Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV