For Disney fans around the globe, there are many important dates throughout the year, from movie release dates to major opening dates at Disney Parks. But for investors and those interested in Disney’s financial performance, the Quarterly Earnings Calls are among the biggest days of the year!

Today, Disney discussed their fourth quarter as well as fiscal full year 2020 financial results in a public audio webcast. The company’s fourth quarter and fiscal year ended in late September, meaning that this earnings call gave us an even BIGGER picture at how 2020 has impacted the Company.

But what were the biggest key takeaways from today’s earnings call? Let’s break it down!

Key Financial Results

In Q4, Disney reported revenues of $14.7 billion dollars, compared to Q4 earnings of $19.1 billion this time last year (down 23%). When taking into consideration the loss from continuing operations before income tax, that leaves Disney with a total segment operating income of approximately $6 million, down 82% from last year’s Q4 operating income of $3.4 billion.

According to Disney’s Forth Quarter and Diluted earnings per share (EPS) from continuing operations for the fourth quarter was a loss of $0.39 compared to income of $0.43 in the prior-year quarter.

Parks, Experiences and Products

We learned quite a bit of information about how Disney Parks, Experiences, and Products was performing in the Company’s Quarter Three earnings call. We learned that Florida locals were making up roughly 50% of Disney World’s attendance in its earliest weeks of reopening, and that the segment reported a multibillion dollar loss due to the extended park closures.

Since then, we also learned about the devastating layoffs that impacted 28,000 Cast Members across Disney’s Parks, Experiences and Products division.

According to Disney’s report, “The most significant adverse impact in the current quarter and year from COVID-19 was approximately $2.4 billion and $6.9 billion, respectively, on operating income at our Parks, Experiences and Products segment due to revenue lost as a result of the closures or reduced operating capacities. ”

Click here to read more about the layoffs that impacted 28,000 Disney Cast Members

Studio Entertainment

Disney’s Studio Entertainment segment, under which brands such as Walt Disney Studios, Pixar, Marvel, and Lucasfilm reside, has seen drastic shifts in operations amidst the global pandemic. Disney had recently announced that the upcoming Pixar film Soul would skip its theatrical release in the U.S. and go straight to Disney+, the same fate that the live action remake of Mulan faced earlier this year.

Click here to learn more about Soul coming straight to Disney+

Direct-to-Consumer and International

This is the first earnings call since CEO Bob Chapek announced that the Company’s priorities would be shifting towards streaming.

Click here to learn more about Disney CEO Bob Chapek’s decision to shift the Company’s priority to streaming.

Join the DFB Newsletter to get all the breaking news right in your inbox! Click here to Subscribe!

Did you listen in to Disney’s Earnings Call today? What were your biggest takeaways? Let us know in the comments!

The post NEWS: Walt Disney Company Reports Multi-Billion Dollar Loss — We’re Breaking Down the Q4 Report first appeared on the disney food blog.