Disney reported mixed earnings for its third quarter of 2020 after the bell on Tuesday as it continues to feel the impact of the coronavirus pandemic on sectors like its parks business.

迪士尼在8月4号收盘后公布了其2020财年Q3财报。受新冠影响，财报内容喜忧参半。

 

KEY POINTS

Q3财报亮点

 

-The company took a $3.5 billion hit to its operating income from parks being closed during the quarter.

-因本季度迪士尼各大主题公园闭园，导致Q3营收减少35亿美元；

 

-Disney now has 100 million paid subscribers across its streaming offerings, more than half of which are subscribers to Disney+.

-迪士尼流媒体服务平台拥有1亿付费用户，其中一半以上是Disney +的用户；

 

-Disney reports 100 million streaming subscribers across platforms.

- 迪士尼所有流媒体平台用户破亿。

 

Disney reported mixed earnings for its fiscal third quarter on Tuesday, but the stock rose 5% in extended trading after CEO Bob Chapek announced a new streaming service and said Disney+ subscribers will get exclusive access to the release of “Mulan,” which has been repeatedly delayed due to theater closures.

8月4日，迪士尼公布了2020财年（2019年10月至2020年9月）第三季度财报。迪士尼CEO Bob Chapek同时宣布，由于影院关闭一直被推迟上映的真人电影《花木兰》将放弃北美院线发行，独家上线流媒体Disney+。消息一出，迪士尼股价上涨了5%。

 

Disney continues to feel the impact of the coronavirus pandemic on sectors like its parks business, where revenue plunged 85% from a year earlier.

Q3迪士尼主题公园等业务依旧受到新冠大爆发的影响，营收同比下跌85%。

 

Chapek announced that Disney+ subscribers would be able to watch its much-anticipated live action film “Mulan” on the platform for $29.99 in the U.S., beginning Sept. 4. Subscribers in Canada, Australia, New Zealand and parts of Western Europe will also be able to stream the movie at slightly varied prices, Chapek said.

Chapek宣布，Disney+的美国平台订阅用户自9月4日起，可以29.99美元的价格点播放映《花木兰》，加拿大、澳大利亚、新西兰和西欧部分国家的订阅用户也将以不同价格获得电影播放权。

 

The movie’s original release had been pushed back as theaters were forced to close during the pandemic. It will be Disney’s first effort to sell content on Disney+, on top of the monthly $6.99 subscription.

由于疫情期间电影院被迫关闭，这部电影的上映日期被一再推迟。现在，除了用户每月支付的6.99美元订阅费用外，这将是迪士尼首次在Disney+上出售内容。

 

Chapek also said that Disney would launch a new general entertainment streaming service in fiscal 2021 under the Star brand it acquired from Fox. The service will feature content Disney already owns from ABC Studios, Fox Television, FX, Freeform, 20th Century Studios and Searchlight, Chapek said. The service will be fully integrated into Disney+ in many markets, Chapek said, and distributed under the Star brand.

Chapek表示，2021年，迪士尼将在其福克斯收购的Star品牌下推出一项新的通用娱乐流媒体服务，该服务将以迪士尼已经从ABC Studios、Fox Television、FX、Freeform、20世纪影业（20th Century Studios）和福克斯探照灯影业（Searchlight）获得的内容为主要构成，这项服务还将在多个市场整合进Disney+中，并以Star品牌发行。

 

Disney’s direct-to-consumer and international segment was the only one to report an increase in year-over-year revenue. Disney said it now has 100 million paid subscribers across its streaming services, which include Disney+, Hulu and ESPN+. More than half of those subscriptions are for Disney+, which boasted 57.5 million subscribers as of the end of the quarter, less than a year after launch.

在第三季度，直接面向消费者和国际的业务，即流媒体业务，是迪士尼唯一实现收入同比增长的业务。迪士尼表示，Disney+、Hulu和ESPN+等流媒体目前拥有1亿付费用户，一半以上是Disney+用户，虽然推出时间还不到一年，但截至本季度末，Disney+已拥有5750万订阅用户。

 

As of Monday, Disney+ reached 60.5 million paid subscribers, Chapek said on the company’s earnings call, hitting its goal of 60 million to 90 million subscriptions by 2024, four years early.

截至8月3日，Disney+的订阅用户高达6050万人次，而其初始目标是2024年订阅用户人数达到6000万到9000万人次，提前四年完成了目标。

 

Here’s how Disney’s segments did in the third quarter in terms of revenue compared to the same quarter last year:

迪士尼四大业务的Q3营收如下：

 

·Media Networks: $6.56 billion, down 2%

·Parks, Experiences and Products: $983 million, down 85%

·Studio Entertainment: $1.74 billion, down 55%

·Direct-to-Consumer and International: $3.97 billion, up 2%

 

· 媒体网络收入65.6亿美元，同比下降2％

· 主题公园、体验和消费者产品收入9.83亿美元，同比下降85%

· 影视娱乐收入17.4亿美元，同比下降55%

· 直接面向消费者和国际收入39.7亿美元，同比增长2％

 

Disney’s parks and studio entertainment segments suffered the most during the quarter as pandemic lockdowns restricted travel and production.

由于疫情爆发限制了旅行和生产，迪士尼的主题公园和影视娱乐业务在本季度受损最大。

 

Disney had been able to reopen some of its parks with limited capacity and new restrictions to keep visitors safe, but its Disneyland theme park and resort in California was forced to delay its expected July reopening as the state pushed back its guidelines amid rising case numbers.

迪士尼已重新开放了部分主题公园，并限制了客流量以保证游客安全，但由于加州确诊人数增加，原定于7月重新开放的加利福尼亚州的迪士尼主题公园和度假区被迫推迟开放。

 

The company took a $3.5 billion hit to its operating income from parks being closed during the quarter. CFO Christine McCarthy said on Disney’s earnings call that it did not see as much upside as originally anticipated from its reopening of Walt Disney World in Orlando, Florida, due to the surge of cases in the region.

迪士尼称主题公园关闭导致第三季度的主题公园、体验和消费者产品业务亏损高达35亿美元。

 

Disney faced particularly tough comparisons this quarter, as the company released box office blockbusters “Avengers: Endgame” and “Aladdin” during the same period last year. “Avengers: Endgame” was the highest grossing film of all time, earning $2.79 billion at the global box office.

迪士尼之所以在本季度面临严酷的对比，是因为其在去年同期发行了票房大片《复仇者联盟4：终局之战》和《阿拉丁》，其中《复仇者联盟4：终局之战》是有史以来票房最高的影片，全球票房收入达27.9亿美元。

 

Disney announced last quarter it was suspending its dividend payout for the first half of the year. McCarthy told analysts on the call a decision on whether to pay out a dividend for the last half of the year would come around late November or early December. She added that the dividend suspension gave Disney more flexibility to deal with changes required by the pandemic.

迪士尼在上个季度宣布暂停今年上半年的股息分红，其CFO Christine McCarthy在电话会议中告诉分析师，下半年股息是否派发的决定将在11月下旬或12月初做出，暂停股息分红为迪士尼提供了更大的灵活性来应对疫情带来的挑战。

 

迪士尼Q3财报全文，可点击链接查看。

 

 

财报专有名词积累

 

after the bell 收盘后

解析： the bell 即closing bell，是指标志着交易时段结束的铃声，铃声一响，即代表某证券在证券交易所一天的交易活动结束。财报里常用after the bell来表示收盘。

 

earnings call 财报电话会议

 

earnings for its fiscal third quarter 财年第三季度财报

解析：财年（fiscal year）和财季（fiscal quarter）其实不同于我们日常的年和季度划分。财年，也就是财经年度,是指一个国家以法律规定为总结财政收支和预算执行过程的年度起讫时间。一般分为历年制（即公历1月1日起至12月31日止）和跨年制两种。在中国，企业的财年起止一般都按历年制。但在国外很多国家都沿袭跨年制。比如美国，美国政府的财年是10月1日至次年9月30日，当然，本篇中的迪士尼的财年也是按照这个起止时间。美国企业方面的财年时间各部不同，很多企业的财年规定为7月1日至次年6月30日。美国还有很多企业的财年可以很自由，根据自己的行业特性而定。他们会运用更适合自己的日期作为自己的财年起止，以便做财政预算、纳税和财报。这些企业通常有自己的商业周期，或所处行业有一定季节性影响。

财年里对四个财年季度的划分，则也依据各自财年的划分而各不相同。

 

dividend payout  股息分红

 

pay out a dividend 派发股息

 

dividend suspension 暂停股息分红

 

compared to the same quarter last year 与去年同季度相比（同比）

 

operating income 营收

 

热词提炼

 

streaming offerings 流媒体服务平台

 

streaming subscribers 流媒体用户

 

paid subscribers 付费用户

 

get exclusive access to 获得独家观看机会

 

theater closures 影院关闭

 

much-anticipated 备受瞩目的；万众期待的

 

at slightly varied prices 以略微不同的价格

 

be pushed back 被推迟

 

on top of  除……之外

 

hit its goal of  达成……的目标

 

the highest grossing film of all time 有史以来票房最高的影片

 

at the global box office  全球票房

 

face particularly tough comparisons 面临严酷的对比

 

box office blockbusters  票房大片

 

be forced to close 被迫关闭