Disney 3Q Net Tops Street


Walt Disney Co. (NYSE:DIS) posted better-than -expected results on Tuesday, as revenue and earnings-per-share both beat analyst expectations.

Profit rose to $1.33 billion, or 67 cents a share, compared with $954 million, or 51 cents a share, one year ago.

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Revenue rose 16% to $10 billion, compared with year-ago sales of $8.6 billion.

Analysts had expected earnings of 58 cents a share on revenue of $9.38 billion, according to a poll by Thomson Reuters.

"We're very pleased with our strong third quarter, in which we grew revenues substantially and improved profitability across the majority of our businesses," said president and chief executive Robert Iger, in a release. "Our performance underscores the value of sticking to a smart strategy even in tough times, of investing in the right people, and of focusing relentlessly on quality and innovation to drive growth in shareholder value."

Shares of Disney rose 13 cents in Tuesday’s session, before rallying another 50 cents, or 1.5%, in after-hours trading.

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