It’s finally Friday. Y’all, we made it.
But before it’s time to sign off for the long weekend, there’s still news to cover.
Subscribers to Disney+ rose to 94.9 million in the period, topping analysts’ forecasts. Adjusted earnings of 32 cents a share beat Wall Street estimates that called for a loss of 34 cents. Sales of $16.25 billion also came in higher than estimates of $15.9 billion.
“Disney+ has exceeded even our highest expectations,” CEO Bob Chapek told investors on a conference call. He noted that subscribers to the service were just 26.5 million a year earlier.
And then let’s talk about Paypal.
“Schulman said the strength of PayPal lies in the strength of the brand. He said consumers around the world know and trust the PayPal brand and know the company stands up for its values. The advantage PayPal has is data, he continues. The platform processes over 30,000 transactions a minute and that data has allowed them to build in 130 security and privacy checks with every purchase. All of those checks, he added, happen in just a third of a second,” wrote TheStreet’s Scott Rutt in his Mad Money recap.
“Rainey said they expect consumers to continue to gravitate toward digital wallets, even after the pandemic. Customers want to have easy access to their money no matter where they are and traditional banking is a thing of the past,” he continued. “When asked about cryptocurrencies, Schulman explained that PayPal is taking a slow and responsible approach toward digital currencies. He said they’ve invested a lot of time in educating consumers on what cryptocurrencies are and they have limits around transactions so people can start slowly while they learn.”