(By Balaseshan) Walt Disney Co. (NYSE:DIS), a worldwide entertainment company, reported a 24% jump in quarterly earnings helped by strong growth across all segments. Despite earnings exceeding Street's expectations, revenue missed consensus.
Earnings for the third quarter were $1.83 billion or $1.01 per share, up from $1.48 billion or $0.77 per share last year. Excluding a gain related to an acquisition and restructuring and impairment charges, adjusted earnings per share grew 29% to $1.01.
Revenue increased 4% to $11.09 billion. Analysts, on average, had expected a profit of $0.93 per share on revenue of $11.30 billion.
Revenue from media networks rose 3% to $5.08 billion, due to growth at the domestic Disney Channels and ABC Family, as well as rise at ESPN. Parks and resorts revenue grew 9% to $3.44 billion, driven by increases at its Tokyo Disney Resort, Disney Cruise Line and the domestic parks and resorts.
Studio entertainment revenue marginally rose 0.3% to $1.625 billion. Higher worldwide theatrical results reflected the performance of the current quarter releases including Marvel's The Avengers and Brave.
Consumer products revenue rose 8% to $742 million, while interactive media revenue fell 22% to $196 million.
Segment operating income for the quarter increased to $3.24 billion from $2.73 billion, due to higher income from all of its segments.
DIS closed Tuesday's regular session up 0.32% at $49.81. The stock has been trading between $28.19 and $50.54 for the past 52 weeks.