Walt Disney Co. (NYSE: DIS) released fiscal fourth-quarter financial results after markets closed Thursday. Strong results in the studio have helped Disney to post yet another strong quarter.
The Mouse House said that it had $1.48 in earnings per share (EPS) and $14.31 billion in revenue, compared with consensus estimates that called for $1.34 in EPS and $13.7 billion in revenue. The same period from last year had $1.07 in EPS and $12.78 billion in revenue.
In terms of its segments, the company reported:
- Media Networks revenues for the quarter increased 9% to $6.0 billion, and segment operating income increased 4% to $1.5 billion.
- Parks and Resorts revenues for the quarter increased 9% to $5.1 billion, and segment operating income increased 11% to $829 million. Operating income growth for the quarter was due to an increase at our domestic operations. Domestic results reflected the comparison to the adverse impact of Hurricane Irma, which occurred in the prior-year quarter.
- Studio Entertainment revenues for the quarter increased 50% to $2.2 billion and segment operating income increased $378 million to $596 million. The increase in operating income was due to growth in theatrical distribution, lower film cost impairments and higher TV/SVOD and home entertainment distribution results.
- Consumer Products & Interactive Media revenues for the quarter decreased 8% to $1.1 billion, and segment operating income decreased 10% to $337 million due to asset impairments and lower income from licensing activities, partially offset by lower general and administrative costs at our games business.
Bob Iger, board chair and chief executive, commented:
We’re very pleased with our financial performance in fiscal 2018, delivering record revenue, net income and earnings per share. We remain focused on the successful completion and integration of our 21st Century Fox acquisition and the further development of our direct-to-consumer business, including the highly anticipated launch of our Disney-branded streaming service late next year.
Shares of Disney closed Thursday at $116.09, with a consensus analyst price target of $120.49 and a 52-week range of $97.68 to $119.69. Following the announcement, the stock was up 1.3% at $117.64 in early trading indications Friday.