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FOR IMMEDIATE RELEASE February 11 , 2021 THE WALT DISNEY COMPANY REPORTS FIRST QUARTER EARNINGS FOR FISCAL 2021 BURBANK , Calif . - The Walt Disney Company today reported earnings for its first fiscal quarter ended January 2 , 2021. Diluted earnings per share ( EPS ) from continuing operations for the quarter decreased 98 % to $ 0.02 from $ 1.17 in the prior - year quarter . Excluding certain items , ¹ diluted EPS for the quarter decreased 79 % to $ 0.32 from $ 1.53 in the prior - year quarter . Results in the quarter ended January 2 , 2021 were adversely impacted by the novel coronavirus ( COVID - 19 ) . The most significant impact was at the Disney Parks , Experiences and Products segment where since late in the second quarter of fiscal 2020 , our parks and resorts have been closed or operating at significantly reduced capacity and our cruise ship sailings have been suspended . " We believe the strategic actions we're taking to transform our Company will fuel our growth and enhance shareholder value , as demonstrated by the incredible strides we've made in our DTC business , reaching more than 146 million total paid subscriptions across our streaming services at the end of the quarter , " said Bob Chapek , Chief Executive Officer , The Walt Disney Company . " We're confident that , with our robust pipeline of exceptional , high - quality content and the upcoming launch of our new Star branded international general entertainment offering , we are well - positioned to achieve even greater success going forward . " The following table summarizes the first quarter results for fiscal 2021 and 2020 ( in millions , except per share amounts ) : Revenues Income from continuing operations before income taxes Total segment operating income ( ¹ ) Net income from continuing operations ( ² ) Diluted EPS from continuing operations ( 2 ) Diluted EPS excluding certain items ( ¹ ) Cash provided by continuing operations Free cash flow ( ¹ ) ( 2 ) Quarter Ended January 2 , 2021 1 16,249 December 28 , 2019 $ 46 $ 1,332 $ 29 $ 0.02 $ $ 0.32 75 $ ( 685 ) $ 20,877 2,626 3,996 2,128 1.17 1.53 1,630 292 Change $ ( ¹ ) Diluted EPS excluding certain items , total segment operating income and free cash flow are non - GAAP financial measures . The comparable GAAP measures are diluted EPS from continuing operations , income from continuing operations before income taxes , and cash provided by continuing operations , respectively . See the discussion on page 2 and on pages 9 through 11 . ( 22 ) % ( 98 ) % ( 67 ) % ( 99 ) % ( 98 ) % ( 79 ) % ( 95 ) % nm Reflects amounts attributable to shareholders of The Walt Disney Company , i.e. after deduction of income attributable to noncontrolling interests .