Walt Disney Reports Solid Q1 (DIS)
February 09, 2010 4:37 PM
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.
