logo
  Join        Login             Stock Quote

Walt Disney (DIS) Gains After Stronger-Than-Expected Q2

 May 08, 2012 05:00 PM
 


(By Balaseshan) Walt Disney Co. (NYSE:DIS), a worldwide entertainment company, reported a 21% jump in second quarter earnings helped by strong growth across four segments, despite lower theatrical results of John Carter film. Adjusted earnings and revenue came in above Street's expectations, sending its shares up 1.13% in aftermarket.

Earnings for the second quarter were $1.14 billion or $0.63 per share, up from $942 million or $0.49 per share last year. Excluding a gain related to an acquisition and restructuring and impairment charges, adjusted earnings per share rose 18% to $0.58.

Revenue increased to $9.63 billion from $9.08 billion. Analysts had expected a profit of $0.55 per share on revenue of $9.56 billion.

[Related -Will The Dividend And Buyback Frenzy Continue?]

Revenue from media networks increased 9% to $4.69 billion, due to growth at ESPN and, to a lesser extent, at the domestic Disney Channels. Increased prime time rates at the ABC Television Network also contributed to the rise in media networks revenue.

Parks and resorts revenue grew 10% to $2.90 billion, driven by increases at its domestic parks and resorts, Tokyo Disney Resort and Hong Kong Disneyland Resort, partially offset by a decrease at Disneyland Paris.

Studio entertainment revenue fell 12% to $1.18 billion, primarily due to lower worldwide theatrical results reflecting the performance of John Carter in the current quarter along with the related film cost write-down. Other titles in the current quarter include The Muppets and Beauty and the Beast 3D.

[Related -How To Supply Your Portfolio With Outperforming Stocks]

Consumer products revenue rose 8% to $679 million, driven by the performance of Minnie, Mickey, The Avengers and Princess merchandise as well as an increase in Merchandise Licensing.

Interactive media revenue increased 13% to $179 million, driven by an increase at its games business reflecting improved results from social and console games.

Segment operating income for the quarter increased to $1.95 billion from $1.77 billion, due to  higher income from all of its segments excluding studio entertainment.

Chief Executive Robert Iger said the company is incredibly optimistic about its future, given the strength of core brands, Disney, Pixar, Marvel, ESPN, and ABC, and its extraordinary ability to grow franchises across businesses, such as The Avengers, which shattered domestic box office records with a $207.1 million opening weekend for a global performance of more than $702 million to date.

DIS closed Tuesday's regular session up 1.10% at $44.30. The stock has been trading between $28.19 and $44.50 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article image3 US Updates Show Ongoing Growth

Three economic updates today provide more evidence that moderate growth endures for the US. The numbers du read on...

article imageBuy These Solar Stocks Before They Snapback

Sometimes the market hands you a gift. And it would be foolish not to take it. Thanks to general market read on...

article imageInvestors Are Even More Euphoric And Confident.

As noted on the blog last Thursday, even though the market had been down for three straight weeks, last read on...

article imageThe Butterfly Machine

There’s a phenomenon called the Butterfly Effect. One common quotation is “It has been said that something read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.