Disney Is Its Own Superhero After Earnings

On the books, Disney reported $3.75 billion in cash and cash equivalents to end the fiscal second quarter. And Disney reported free cash flow of $2.87 billion, compared to $2.38 billion in the same quarter of last year.

In terms of its segments, compared to the same quarter of the previous year, Disney reported:

• Media Networks increased its revenues by 13% to $5.81 billion, with a 2% decrease in operating revenue to $2.1 billion.
• Parks and Resorts increased its revenues by 6% to $3.76 billion, with a 24% increase in operating revenue to $566 million.
• Studio Entertainment revenues decreased by 6% to $1.69 billion, with a 10% decrease in operating revenue to $427 million.
• Consumer Products increased its revenues by 10% to $971 million, with a 32% increase in operating revenue to $362 million
• Interactive revenues decreased by 12% to $235 million, with an 85%% increase in operating revenue to $26 million

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Robert A. Iger, chairman and CEO of Disney, commented on earnings:

Our second quarter performance, marked by increased revenue, net income and EPS of $1.23, demonstrates the incredible ability of our strong brands and quality content to drive results. The power of this winning combination is once again reflected in the phenomenal worldwide success of Marvel’s Avengers: Age of Ultron, which has opened at number one in every market so far.

Equity in the income of investees decreased $11 million to $206 million due to a decrease at Hulu, driven by higher programming and marketing costs, partially offset by an increase in subscription revenues.

Shares of Disney closed Monday up 0.5% at $111.03. After the earnings report came out, shares were up about 2% at $113.38 in premarket trading, pushing new highs. The stock has a consensus analyst price target of $110.96 and a 52-week trading range of $78.54 to $111.66.