Disney Shares Up 1.8% As Company Beats Profit, Revenue Estimates

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The Walt Disney co. shares rose 1.8% in premarket trade, after the company sailed past profit and revenue estimates for its second fiscal quarter. Disney said it had net income of $2.108 billion, or $1.23 a share, in the quarter ended March 28, up from $1.917 billion, or $1.08 a share, in the year-earlier period. Revenue rose 7% to $12.461 billion. The FactSet consensus was for EPS of $1.11 and revenue of $12.245 billion. Revenue at the company's media networks division climbed 13% to $5.81 billion, while revenue at parks and resorts was up 6% to $3.76 billion. Revenue from consumer products rose 10% to $971 million. But revenue from studio entertainment fell 6% to $1.685 billion and interactive fell 12% to $235 million. Shares have gained about 18% in the year so far, while the S&P 500 has gained 2.7%.

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