Disney posts smaller-than-expected drop in quarterly revenue

(Reuters) - Walt Disney Co reported a smaller-than-expected drop in fourth-quarter revenue on Thursday, calming worries of a big impact from the COVID-19 pandemic on its theme parks and movie studio businesses. Overall revenue fell about 23% to $14.71 billion (£11.22 billion) in the quarter ended Oct. 3, above analysts' average estimate of about $14.2 billion, according to Refinitiv IBES data.

Reuters November 13, 2020 03:06:01 IST
Disney posts smaller-than-expected drop in quarterly revenue

Disney posts smallerthanexpected drop in quarterly revenue

(Reuters) - Walt Disney Co reported a smaller-than-expected drop in fourth-quarter revenue on Thursday, calming worries of a big impact from the COVID-19 pandemic on its theme parks and movie studio businesses.

Overall revenue fell about 23% to $14.71 billion (£11.22 billion) in the quarter ended Oct. 3, above analysts' average estimate of about $14.2 billion, according to Refinitiv IBES data.

(Reporting by Akanksha Rana in Bengaluru and Lisa Richwine in Los Angeles; Editing by Arun Koyyur)

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