The Walt Disney Company stock closed for the day at $174.45 a share before reporting their earnings for the fourth quarter (Q4) of fiscal year 2021 which ended on October 2, 2021.
Diluted earnings per share (EPS) from continuing operations for the quarter was income of $0.09 compared to a loss of $0.39 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter was income of $0.37 compared to a loss of $0.20 in the prior-year quarter. Diluted EPS from continuing operations for the year ended October 2, 2021 was income of $1.11 compared to a loss of $1.57 in the prior-year. Excluding certain items, diluted EPS for the year increased 13% to $2.29 from $2.02 in the prior-year.
“This has been a very productive year for The Walt Disney Company, as we’ve made great strides in reopening our businesses while taking meaningful and innovative steps in Direct-to-Consumer and at our Parks, particularly with our popular new Disney Genie and Magic Key offerings,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “As we celebrate the two-year anniversary of Disney+, we’re extremely pleased with the success of our streaming business, with 179 million total subscriptions across our DTC portfolio at the end of fiscal 2021 and 60% subscriber growth year-over-year for Disney+. We continue to manage our DTC business for the long-term, and are confident that our high-quality entertainment and expansion into additional markets worldwide will enable us to further grow our streaming platforms globally.”
The Parks, Experiences and Products segment (which includes Disney Cruise Line) saw revenues for the quarter increased to $5.5 billion compared to $2.7 billion in the prior-year quarter. Segment operating results increased $1.6 billion to income of $640 million. Operating income for the quarter reflected increases at the domestic and international parks and experiences businesses, partially offset by a decrease at the consumer products business.
Revenue and operating income growth was due to the reopening of our parks and resorts, which were open for the entire quarter this year. In the prior-year quarter, Shanghai Disney Resort was open for the entire quarter, Walt Disney World Resort and Disneyland Paris were open for approximately 12 weeks, Hong Kong Disneyland Resort was open for approximately 4 weeks and Disneyland Resort was closed for the entire quarter. During the periods our parks and resorts were open, they were generally reduced capacities.
Lower results at the consumer products business were driven by lower royalties from game titles, Marvel’s Avengers and Twisted Wonderland.
There were no additional details regarding Disney Cruise Line in the press release. We will update this post if we hear anything during the earnings call and Q&A.
For more information and an overall report click over to the Q4-2021 Earnings Report.