Disney 4Q Beats Street as Media, Resorts See Revenue Rise

By Kathryn Glass Features FOXBusiness


The Walt Disney Co. (DIS) beat the Street’s expectations for fiscal fourth-quarter results as revenue in four of the company’s five business divisions surged higher. 

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The media and entertainment giant reported profit that jumped 30% to $1.09 billion, or 58 cents a share, compared with year-ago earnings of $835 million, or 43 cents a share.  On an adjusted basis, earnings rose to 59 cents, up from 45 cents one year ago.  

Revenue rose 7% to $10.43 billion, compared with year-ago revenue of $9.74 billion.

The results beat expectations, as analysts had anticipated adjusted earnings of 54 cents a share on revenue of $10.36 billion, according to a poll by Thomson Reuters.

Revenue from the company’s media networks rose 9%, year-over-year to $4.8 billion, as revenue from the parks and resorts unit rose 11% to $3.1 billion. Consumer products and interactive media revenue also surged 12% and 19% to $816 million and $223 million, respectively.  Revenue from the company’s studio entertainment division fell 8% to $1.5 billion, as a result of stronger year-ago film titles, including “Toy Story 3,” “Alice and Wonderland,” “Iron Man 2” and “Princess and the Frog.”

"We are confident the Company is well-positioned to deliver long-term value for our shareholders with our focus on quality content, compelling uses of technology and global asset growth," said Disney President and CEO Robert A. Iger, in a statement.

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Disney joins the ranks of other media corporations such as News Corp. (NWSA), Time Warner, Inc. (TWX) and Comcast Corp. (CMCSA) which have each logged strong quarterly results.

Shares of the Walt Disney Co. rose 85 cents, or 2.5%, on Thursday, closing at $34.64 a share.  The stock was up another $1.15, or 3.32%, in after-hours trading.