Disney beats 2Q profit forecasts

Markets Associated Press

The Walt Disney Co. (DIS) on Tuesday reported fiscal second-quarter net income of $2.39 billion.

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On a per-share basis, the Burbank, California-based company said it had profit of $1.50.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.

The entertainment company posted revenue of $13.34 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $13.48 billion.

Disney shares have climbed 7.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 7 percent. In the final minutes of trading on Tuesday, shares hit $112.03, a climb of slightly more than 6 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DIS at https://www.zacks.com/ap/DIS

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Keywords: Walt Disney, Earnings Report, Priority Earnings