Disney beat forecasts for its fiscal first quarter with revenue of $16.9 billion, versus $20 billion the year before. The media giant’s diluted loss per share was 32 cents versus $1.53 as the pandemic continued to squeeze businesses from parks and live shows to production to theatrical revenue.However, It’s fair to say the first quarter – of the fiscal year ending in Sept. – was groundbreaking as Disney+ took the stage.
As a testament to how dramatically streaming reshaped the business, the company is splitting its financial report into two major areas – media and entertainment and Disney parks, experiences and products.Disney Media and Entertainment Distribution saw revenue fall 5% to $12.6 billion.
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