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Walt Disney Reports Solid Q1 (DIS)
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Posted on 02/09/10 at 4:37pm by Swing Trader
The Walt Disney Co. (NYSE: DIS) reported net income of $844 million, or $0.47 per share, during its first quarter, beating the consensus estimate of $0.38 per share. Revenues rose 1.5% year-over-year to $9.74 billion versus the $9.66 billion consensus.
Media Networks revenues for the quarter increased 7% to $4.2 billion and segment operating income increased 11% to $724 million. Parks are Resorts revenues for the quarter were essentially flat at $2.7 billion.
CEO Bob Iger said the company was "excited" about upcoming movies "Alice in Wonderland" and "Toy Story 3". Disney is viewed as a baromter of consumer health because spending on its theme parks, stores, and movies is directly linked to how freely consumers are spending.
Shares of Disney rose to $30.43 in after hours trading after closing the regular session at $29.84.
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