Needham analyst Laura Martin lowered her second-quarter 2020 Disney revenue estimate by 7.6 percent to $19.7 billion and her earnings per share estimate by 14 percent to $1.20
, MLB, MLS and NHL canceled or postponed their seasons and ESPN is the largest aggregator of sports programming; and many film openings are postponed, which adds competition upon ultimate release and writes off marketing spending to date."
She lowered her second-quarter 2020 Disney revenue estimate by 7.6 percent to $19.7 billion and her earnings per share estimate by 14 percent to $1.20. "Since the consensus earnings per share estimate for the fiscal year is higher than ours, we expect estimates to trickle down over the next several weeks," she added. "Our projections assume normal operations for parks, ESPN, and films by the end of June, based on successful COVID-19 containment.
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