Disney releases details of fourth-quarter earnings; says subscribers are now over 26 million

Disney releases details of fourth-quarter earnings; says subscribers are now over 26 million

- Disney has released details of its fourth quarter earnings which show an increased revenue of $20.86 billion

- The company's earnings per share for the period was $1.53 per share, beating the $1.46 projection announced by analysts

- About 10 million people immediately signed up for Disney+ when it was launched on Tuesday, November 12, 2020

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The fourth-quarter earnings of The Walt Disney Company, the American multinational mass media and entertainment conglomerate, have been released.

Information available shows that the subscribers for its new Disney+ streaming service shot up to over 26 million and the monthly revenue per paid subscriber was $5.56.

YEN.com.gh understands that the company’s shares increased by about 2% soon after its release but this soon changed.

Disney releases details of fourth-quarter earnings; says subscribers are now over 26 million

Source: Yahoo Finance
Source: UGC

READ ALSO: Apple teams up with Genius to challenge Spotify with video series

Yahoo Finance reports that Disney set a five-year goal of 60 million to 90 million subscribers for the streaming service worldwide.

According to the chairman and chief executive officer of the company, Robert Iger, "we had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations."

Disney registered a $1.53 per share, beating the $1.46 projection announced by analysts ahead of the release of the details by 4.8%.

Its quarterly revenue was also $20.86 billion, beating the Wall Street's $20.78 billion estimate.

About 10 million people signed up right away for Disney+ when it was launched on Tuesday, November 12, 2020, though some were on a free offer for customers of Verizon Communications Inc.

The service also likely picked up a number of subscribers because of the buzz around its first hit series, "The Mandalorian."

In other news, renovation of billionaire Jeff Bezoz’s home in Washington DC, has resulted in parking tickets to the tune of $16,840 over the last three years.

YEN.com.gh understands that over 560 citations were issued in total for violations such as ignoring "no parking" signs or blocking pedestrian pathways.

Per a report by Business Insider, most of the citations were issued mostly for blocking of crosswalks and obstruction of pedestrian pathways

The billionaire purchased the home, paying $23 million in cash and the property has been renovated a number of times since then.

The property is situated on 27,000 square feet and is the site of a former textile museum. It now consists of 25 bathrooms, 11 bedrooms, two workout rooms, a ballroom, and a whiskey cellar. Other high-profile residents in the area include the Obamas and Jared Kushner and Ivanka Trump.

Information available shows that neither the Department of Public Works in Washington nor Amazon has provided answers to the calls for comments.

READ ALSO: Apple initiates plans to starts its own 5G service after banning Huawei

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