Disney (DIS): Walt Would Be Proud
Disney (DIS) had the kind of quarter that a company based on the fantastic should have. Diluted EPS for the second quarter increased to $0.58, compared to $0.44 in the prior-year quarter. Revenu rose 10% to $8.71 billion. Segment operating…
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Disney (DIS) had the kind of quarter that a company based on the fantastic should have.
Diluted EPS for the second quarter increased to $0.58, compared to $0.44 in the prior-year quarter. Revenu rose 10% to $8.71 billion. Segment operating income was up 21% to $2.14 billion.
The company’s studios were the stars. Their revenue rose 18% to $1.822 billion. Operating income was up 61% to $377 million.
The company’s parks did unusually well given the economic slowdown. Revenue rose 11% to $2.725 billion. Operating income was up 33% to $339 million.
Disney’s largest division, its media networks, had slower growth with 5% revenue increase and a 14% segment operaing income bump to $1.317 billion. ESPN did well. ABC did not.
In tough times, investors in the company got a trip to Disney Land.
Shares rose 2.7% on the news to $34.60.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
