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Media

Record Earnings For Disney

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By Jon C. Ogg Updated Published
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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

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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