The Walt Disney Company reported Thursday a revenue of 16.25 billion U.S. dollars for its fiscal first quarter of 2021, down 22 percent from last year as a result of the ongoing COVID-19 pandemic.

Diluted earnings per share (EPS) from continuing operations for the quarter decreased 98 percent to 0.02 dollars from 1.17 dollars in the prior-year quarter. Excluding certain items affecting comparability, diluted EPS for the quarter decreased 79 percent to 0.32 dollars from 1.53 dollars in the prior-year quarter, according to a Disney press release.

The U.S. entertainment giant noted that results in the quarter ended Jan. 2, 2021 were adversely impacted by the novel coronavirus.

"Since late in the second quarter of fiscal 2020 and continuing into fiscal 2021, COVID-19 and measures to prevent its spread have impacted our segments in a number of ways, most significantly at Disney Parks, Experiences and Products," Disney said in the release.

The company estimated that pandemic-related costs may total approximately 1 billion dollars in fiscal 2021.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS AGENCY

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