Walt Disney Co. (NYSE: DIS) has just reported earnings for its second quarter. The DJIA component owner of the Disney theme parks, ESPN, films, and more turned in earnings of $1.01 in earnings per share and $11.09 billion in revenue. Estimates were $0.93 EPS and $11.3 billion in sales according to Thomson Reuters.
Chairman & CEO Robert (Bob) Iger was quoted, “We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company… up 31% over last year, driven by growth in every one of our businesses… we believe our results clearly demonstrate Disney’s unique value proposition and great potential to deliver long-term growth.”
here was a breakdown of the growth: media up 3%, parks and resorts up 9%, studio entertainment flat, and consumer products up 22%; interactive was the drag at -22% but that represents only $196 million of the whole revenue pie.
Disney shares closed up 0.3% at $49.80 and the 52-week trading range is $28.19 to $50.54. The consensus target from Thomson Reuters’ pool of analysts was $50.75 without consideration for the earnings report.
We currently have Disney shares trading down a bit over 1% so far in the after-hours trading session.
JON C. OGG