Leisure & entertainment news & headlines
- Disney reports £3.61 billion of net GAAP loss in the third quarter.
- Its operating income took a £2.68 billion hit due to COVID-19.
- Disney will announce its decision regarding H2 dividend later this year.
Latest Leisure & entertainment news
Global media and entertainment giant Walt Disney Co (NYSE: DIS) is among the most hotly debated stocks on Wall Street. Some investors are concerned that demand for its parks won’t return for months, if not years due to the COVID-19 pandemic. But according to a former Disney “Imagineer,” the pent up demand for people to return to its parks “will be there.” The importance of parks Disney has shown impressive performance in its Parks and Resorts bus...
Cineworld (LON: CINE) revealed to have secured a debt facility worth £201 million from private institutional investors. The British cinema operator is currently preparing to reopen its countrywide theatres for the public as the government starts to ease the COVID-19 restrictions that halted operations in recent months. Shares of the company are currently 2% down on Monday. The £1.06 billion company is about 65% down year to date in the stock mark...
Cineworld Group (LON: CINE) announced to have withdrawn from its merger deal with Cineplex Inc (TSE: CGX) on Friday. The cinema operator cited Cineplex’s breaches in the £1.32 billion merger agreement for abandoning the deal. Cineworld, however, did not divulge any further information about the nature of such violations. Shares of Cineworld posted an about 7% intraday gain on Friday. At 76.66 pence per share, the Brentford-headquartered company i...
Codere SA (OTCMKTS: CODEF) released its first-quarter trading statement on Thursday that posted £87 million in group-wide losses. The company is seeking financial support that it deems vital for the survival of its operating units. Codere’s Q1 loss came in ten times higher than a £7.7 million loss in the same quarter last year. The company attributed the unparalleled increase in its loss to the Coronavirus pandemic that pushed its gambling venues...
Sony Corp’s (NYSE: SNE) entertainment and film unit Sony Pictures scored a $70 million payday by selling its Tom Hanks thriller to Apple Inc. (NASDAQ: AAPL). On Wednesday, Sony Pictures CEO Tony Vinciquerra explained the logic behind the deal. Sony scores a profit Hollywood A-lister Tom Hanks assumed the leading role in “Greyhound,” a war flick depicting the role of a commander of a Navy destroyer during the Battle of the Atlantic. The film was s...
Baidu’s estimate for revenue in the second quarter came in stronger than expected on Monday. China’s search engine giant is expecting fast recovery as the largest economy in Asia eases restriction after a nationwide lockdown to minimize the fast spread of the Coronavirus. Baidu’s shares listed in the United States posted an 8% increase in after-hours trading on Monday as the company revealed a smaller than anticipated decline in its revenue in th...
In an announcement on Friday, William Hill (LON: WMH) pulled its financial guidance citing the rising Coronavirus uncertainty. The company highlighted its revenue to have taken a significant hit as COVID-19 postponed sports events. The betting company also said on Friday that it plans on using a phased approach to resume operations in the United Kingdom in the 2nd half of 2020. The developments in its retail operations in the 9 states of the U.S,...
WH Smith (LON: SMWH) said on Thursday that its pre-tax profit in the first half of the current fiscal year came in slightly lower despite an increase in revenue. The company also warned of a more pronounced hit to its financial performance in the second half of fiscal 2020 due to the Coronavirus pandemic. In the 6 months that ended on 29th February, the UK-based retailer of newspaper, books, and magazines reported a 3% decline in its pre-tax prof...
Sony Corp. (TYO: 6758) said on Wednesday that it estimates its operating profit to see a 30% decline in the current fiscal year that started in April that will mark a 4-year low for the company. Sony attributed its downbeat outlook to the Coronavirus pandemic that is weighing heavily on demand for its cameras, television sets, and smartphone image sensors. The company further added that government-imposed lockdowns have resulted in unparalleled d...
Tencent Holdings (HKG: 0700) released its quarterly financial results on Wednesday that topped analysts’ estimates for earnings and revenue. The company attributed its success to a strong demand for its gaming business. Tencent’s advertising and financial technology segments also reported stronger than expected results in the first quarter. Experts had forecast the company to print £11.61 billion in revenue in the first quarter. In terms of profi...
AMC Entertainment Holding Inc. (NYSE: AMC) remained a focal point for analysts and investors alike in premarket trading on Monday as shares skyrocketed around 47% on Daily Mail’s announcement that Amazon Inc. (NASDAQ: AMZN) is interested in acquiring the U.S chain of movie theatres that has been struggling with finances for a few years. According to the Daily Mail’s report, AMC Entertainment, that is primarily known as the owner of Odeon Cinemas,...
Roku Inc. (NASDAQ: ROKU) released its first-quarter earnings report on Thursday that topped the analysts’ estimate for revenue. The report offered an initial insight into the Coronavirus impact on the company’s financial performance as the pandemic pushed advertisers into slashing spending in recent months. Following Roku’s announcement that ad cancellations were greater than usual in Q1, the stock was reported around 10% down in extended trading...
Peloton Inc. (NASDAQ: PTON) released its quarterly earnings report on Wednesday that posted a massive 66% year over year increase in its revenue in the fiscal third quarter. The company said that its live classes and fitness equipment were greatly in demand as the Coronavirus pandemic restricted people to their homes. The upbeat Q3 results also encouraged the company to upgrade its full-year sales guidance. As per CEO John Foley, the health crisi...
Pinterest Inc. (NYSE: PINS) released its first-quarter earnings report on Tuesday that pushed the stock around 19% down in extended trading on lower than expected growth in the company’s user base in the first quarter. Pinterest’s Q1 financial results versus analysts’ estimates According to Refinitiv, experts had forecast the company to print £218.39 million in revenue in Q1. Their estimate for loss per share was capped at 7 pence. In its report...
Disney (NYSE: DIS) released its quarterly financial results on Tuesday that topped analysts’ estimate for revenue but fell short on the earnings front. Following the release of the financial report, Disney was reported over 2% down in extended trading on Tuesday. The company said that the Coronavirus pandemic weighed on its cruise and theme parks businesses. However, demand for its newly launched Disney+ was reported higher as the outbreak restri...
Hasbro Inc. (NASDAQ: HAS) released its quarterly financial results on Wednesday that missed analysts’ estimates for earnings and revenue. The company, however, expressed confidence in its firm financial position and highlighted that it plans on slashing costs to cope up with the seasonal demand that is commonly attributed to the 2nd half of the year. The American multinational conglomerate also warned of a pronounced hit to its financial performa...
Adidas (ETR: ADS) said on Monday that its profit in the first quarter came out 93% lower. The German sportswear manufacturer also reported a 19% decline in its quarterly sales as the Coronavirus pandemic pushed retailers into temporarily shutting down stores in Q1. In the second quarter, the company added, the COVID-19 driven hit to its revenue will be even more prominent. At £56.72 million, Adidas reported a significantly lower profit in t...