Walt Disney Co Beats Earnings Estimates

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Shares of Walt Disney edged upward by as much as 3.16% in after-hours trading, rising as high as $97.10 per share after tonight’s earnings report

Walt Disney released its latest earnings report after closing bell tonight, posting diluted earnings of $1.27 per share, a 23% year over year increase, on revenue of $13.4 billion. Analysts had been expecting earnings of $1.07 per share on $12.85 billion in revenue for the first fiscal quarter of 2015. In the same quarter last year, Disney reported earnings of $1.03 per share on $12.3 billion in revenue.

Key metrics from Walt Disney’s earnings report

Disney reported net income of $2.2 billion, compared to $1.8 billion in the same quarter a year ago. Adjusted earnings were the same as diluted earnings at $1.27 per share.

Walt Disney Chairman and CEO Robert Iger said in a statement, “This was yet another incredibly strong quarter for our Company, with diluted EPS up 23% driven by record revenue as well as significant growth in segment operating income. Our results once again reflect the strength of our brands and high quality content and demonstrate that our proven franchise strategy creates long-term value across all of our businesses.”

Disney’s earnings results by segment

The entertainment company’s Media Networks segment saw an 11% increase in revenues, which rose to $5.9 billion. Revenues from Walt Disney’s Parks and Resorts segment increased 9% to $3.91 billion for the quarter, although the company’s Studio Entertainment segment saw its revenues decline 2% to $1.858 billion. Disney’s Consumer Products segment recorded a 22% increase in revenue, which climbed to $1.379 billion. The company’s Interactive division saw a 5% decline to $384 million for the quarter.

Walt Disney reported strong performance in its Frozen-related consumer products as well as growth in Marvel’s Guardians of the Galaxy and Maleficent. TV shows that performed well include Criminal Minds, Once Upon a Time and Scandal. The company reported a decline at ESPN, however, due to higher costs for production and programming.

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