On Tuesday, Walt Disney added 1.4%, or $1.47, as it moved to settle at $106.17 per share, despite the group releasing mixed quarterly results. During the quarter, revenues came in at $15.35b, slightly lower than expectations of $15.45b. Its studio segment disappointed with revenues of only $2.5b, less than forecasts of $2.75b, while its media and networks segments also missed expectations by $0.11b. In contrast, the group was supported by a strong performance from its parks and resorts segment which reported revenues of $5.15b, sharply higher than estimates of $4.86b. Walt Disney reported adjusted earnings per share of $1.89, easily beating forecasts of $1.61.
Walt Disney is close to finalising the purchase of the film and television businesses from Twenty-First Century Fox. According to reports, Walt Disney is expected to acquire a number of assets, including the Twentieth Century Fox movie and TV studio, cable networks and the international operations. Walt Disney will also buy the group’s stake in the Hulu streaming service. These assets are valued at around $29 per share. Twenty-First Century Fox’s remaining assets, which are mainly focused on news and sport, will be offered to existing shareholders in a new company which should be valued at just more than $11 per share.
Walt Disney issued it’s latest quarterly results on Thursday, with the group missing estimates for both earnings and revenues. However, its shares traded higher in after-hours trade, buoyed by the group’s plan to launch its own streaming service. As it stands, Disney will no longer stream its movies on Netflix starting in 2019. Furthermore, the pricing of Disney’s streaming service is set to be substantially lower than Netflix’s. Looking at its results, Disney saw revenues for the period decline to $12.78bn, down from $13.14bn a year ago and worse than estimates of an increase to $13.23bn. Adjusted earnings came in at $1.07 per share, missing forecasts of $1.12 per share and slightly lower than the $1.10 per share recorded in 2016.
Walt Disney released mixed quarterly results on Tuesday, with the group’s ESPN division continuing to negatively affect its bottom line. Revenue for the quarter increased by 2.8% to come in at $13.34bn, but lower than estimates of an increase to $13.44bn. This increase in revenues was partly due to a 9% uptick in the Parks and Resorts division, while their Cable Networks and Broadcasting divisions both saw revenues increase by 3%. Despite the disappointing revenue figure, Walt Disney saw earnings per share come in at $1.50, easily beating expectations of $1.41.
On Thursday, Walt Disney added 0.34% to settle at $94.96 ahead of the release of its latest quarterly results. However, after markets closed, DIS reported results which missed analysts’ expectations. During the quarter, the group saw revenues decline by 2.7% to come in at $13.14bn, slightly lower than estimates of $13.52bn, mainly due to a 6.8% drop in cable revenues. The group still managed to report a profit of $1.77bn, up from $1.61bn in the previous corresponding period. On a per share basis, earnings came in at $1.10 per share, up from $0.95 a year ago, but lower than expectations of an increase to $1.16 per share.
Yesterday, The Walt Disney Company ended marginally lower after the company released mixed results for its fiscal fourth quarter. For the period, the group posted sales of $13.51bn, slightly lower than the estimated $13.57bn. This was despite cable TV revenue climbing by 12% to $4.25bn, studio entertainment sales increasing to $1.8bn and parks and resorts revenue jumping by 10% to $4.36bn. On the upside, Disney reported adjusted earnings of $1.20 per share, slightly higher than estimates of $1.14 per share. This was mostly due to a strong performance from Disney’s largest segment, media networks, which saw a 27% increase in operating income to $1.82bn.
Continue reading Walt Disney: Another earnings beat but revenue miss
On Tuesday, Walt Disney announced their quarterly results, which saw earnings come in at $1.45 per share, up from $1.28 per share in the previous period, above expectations for an increase to $1.42. However, despite the increase, stock sold off heavily in after-hours trading after it missed revenue forecasts of $13.23bn, instead coming in at $13.1bn. The declines were in part due to a conference call by CEO Bob Iger, which reined in expectations for television subscribers amid subscriber losses in the segment. As of yesterday afternoon, Disney was the best performer on the Dow Jones this year, as it added about 30% in 2015 alone.
Continue reading The Walt Disney Co: Mickey’s still making magic