Disney (DIS) Exceeds Estimates
February 09, 2010 5:29 PM
Disney (NYSE: DIS) reported 1Q diluted EPS of $0.44 compared to the analyst consensus EPS of $0.38. Disney’s revenue came in at $9.74 billion, which also beat the analyst’s expectations of $9.65 billion.
The good news is that the company was able to beat both on the top and bottom line, which sent the stock upwards in after hours trading to highs near $30.62. The bad news from the earnings release is that the company was only able to generate a 1% increase in revenues yoy, as well as a $.01 lower diluted EPS from the prior year’s 1Q.
Revenue increases were only in the media network department, which saw 7% growth yoy. The biggest hit to revenue came from the interactive media division, which decreased by 29% yoy. The reason for lower revenues in the interactive media division is due to the company offering fewer releases of self-published video games, as well as lower unit sales.
