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Walt Disney (DIS) 4Q Earnings Up 14 Pct, In Line With Street; Shares Fall

 November 08, 2012 04:42 PM

(By Balaseshan) Walt Disney Co. (NYSE: DIS), a worldwide entertainment company, reported a 14% increase in quarterly earnings helped by strong growth across all segments. Revenue missed consensus, and its shares fell 2.08% in aftermarket.

Earnings for the fourth quarter were $1.24 billion or $0.68 per share, up from $1.09 billion or $0.58 per share last year. Excluding a gain related to an acquisition and restructuring and impairment charges, adjusted earnings per share grew 15% to $0.68.

Revenue increased 3% to $10.782 billion.

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.68 per share on revenue of $10.92 billion.

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Revenue from media networks rose 2% to $4.9 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 $3.4 billion, driven by increases at its Tokyo Disney Resort, Disney Cruise Line and Hong Kong Disneyland Resort, partially offset by a decrease at Disneyland Paris.

Studio entertainment revenue declined 4% to $1.4 billion, driven by decrease in worldwide theatrical results and higher film cost write-downs, partially offset by improved results in worldwide home entertainment.

Consumer products revenue rose 8% to $883 million, while interactive media revenue fell 14% to $191 million.

Segment operating income for the quarter increased to $2.34 billion from $2.11 billion, due to higher income from all of its segments.

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"The addition of Lucasfilm will further fuel Disney's creative engine across our company to create additional value for our shareholders and we're confident the company is well positioned to continue our strong performance and growth," said Disney Chairman and CEO Robert Iger.

Capital expenditures rose to $3.8 billion from $3.6 billion, driven by an increase at Corporate due to investments in facilities and information technology infrastructure and an increase at Parks and Resorts driven by resort expansion and new guest offerings at Walt Disney World Resort and construction costs at Shanghai Disney Resort.

DIS closed Thursday's regular session down 0.08% at $50.04. The stock has been trading between $33.28 and $53.40 for the past 52 weeks.

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