It could be worse

[The beef 675] “People are still only buying Disney+ for the Mandalorian, right? Can we admit that yet? ” - Jeff Hey there carnivores, After starting the week off on a bit of a heater, things have cooled off after investors realized the Pfizer vaccine doesn’t address the sh*tshow we’re currently caught up in. Today we’re talking Disney overcoming the odds. Keep raging, Jeff & Jason When you wish upon a streaming service Disney announced earnings on Thursday, and another quarter of losses meant that Disney saw its [first annual loss]( in more than 40 years. Somehow, though, Disney managed to beat estimates... so Mickey won’t have to start turning tricks under a bridge in Orlando, after all. Disney reported losses for the quarter of $0.20 per share. Not bad considering analysts expected it to lose $0.70 per share. Its revenue fell to $14.7B, but again beat Wall Street's estimate of $14.2B. Despite what, on the surface, looks like a pretty sh*tty quarter, Disney actually saw shares [climb 7.3%]( during after hours trading. Powerful stream So, how’d Disney do it? Streaming, obviously. Disney+ grew to [73.7M paid subscribers](, well above the 65.5M analysts had anticipated. Some of its other broadcast businesses also contributed, with lower programming costs helping ABC profit jump 47%. Turns out have an intern press play on re-runs of 'The Goldbergs' is pretty cheap. When you include cable networks like ESPN, earnings for Disney’s media division rose 5% from last year to $1.86B. Don’t tell that to the 300 people ESPN laid off last week. Ad revenue also helped Disney’s bottom line, beating Wall Street’s estimate of $1.26B. No word on how much live-action 'Mulan' brought to the table. The bottom line... Disney+ has put the team on its back, but how long can it cover for its deadbeat brother (the parks division)? Those slackers in Parks clocked a loss of $1.1B, smaller than expected, but still hard to swallow. Disney’s parks in California, namely Disneyland (ever heard of it?), remain locked down under California’s ‘rona restrictions. Over in Orlando, Disney World, things are going slightly better, as Disney’s able to increase the number of visitors. Disney’s cruise division said that reservations for the current quarter are 77% full. Hopefully, things go better for Disney’s cruise ships than they did for [SeaDream.]( 📢 Limited Time Remains What If You Can Legally Steal The “Smart Money’s” Trade Ideas And Make Them Your Own?* Learn How Ben Sturgill Profits From Blockbuster Trade Ideas That Wall Street Wants To Keep “Hidden” [Secure Your Spot Now!]( Shrinkage WeWork [must’ve been in the pool](... Masayoshi Son’s sugar baby has been hit hard by the pandemic, as revenue and membership continued its downward trend for the year. Revenue fell 8% compared to the previous quarter, while membership totals dropped 11%. No word on if those numbers are community-adjusted. The office rental company [saw a negative free cash flow]( of $517M, which is better than last year’s third quarter negative $1.25B figure. Granted Q3 2019 was also when the company burned through $1.2B and had its failed attempt going public. Perhaps it can bring back Adam Neumann for consulting? Is it in yet? I imagine Amazon’s customer service will be hearing that a lot in the near future. Amazon is expanding its in-garage delivery service, dubbed Amazon Key, from 50 cities to 4k cities in the US of A. The delivery [requires]( smart garage door opener (myQ) and Prime membership, so if you’re reading this and you actually pay for shipping, then clearly this isn’t for you... peasant. And it’s not just your Amazon packages porch pirates won't be able to get their hands on. Groceries from Whole Foods and Amazon Fresh are also eligible for the service. Getting laid… off While ‘rona cases are on the rise, unemployment figures [continue to fall](. Initial jobless claims declined again, falling from 757k to 709k last week. The number of people continuing to collect unemployment benefits fell as well, from 7.2M a week earlier to 6.8M. The continued decrease in unemployment show that laid off workers, which totaled almost 25M in May, have either been rehired to their jobs, been hired elsewhere, or simply given up… which seems like a bad strategy. It’s electric Xpeng [gained]( 33% yesterday after dishing out its first earnings report as a public company. The electric carmaker delivered 8,578 vehicles in Q3, which is a 265.8% increase compared to last year. See that Nikola, an EV startup that actually produces vehicles. The China based EV company reported revenue of $293.1M, which is a 342.5% increase from the same period last year. 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