Disney (DIS) Beats, But is Otherwise Unimpressive
The Walt Disney Company (NYSE: DIS) earned $0.44 per share in its first fiscal quarter of 2010 (ending 01/02/10)... a penny less than the same quarter a year earlier. However, excluding extraordinary (one-time) accounting items, the company said it earned 47 cents per share. Analysts were only expecting an operating EPS of 38 cents.
In terms of real dollars The Walt Disney Company earned $844 million in the quarter, which was flat compared with the same quarter a year ago. Revenue were up 1.0%, to $9.74 billion.
Television revenue saw the biggest improvement, with a 7% increase in revenue, while the company's movie studio revenue was flat at $1.9 billion. Operating income for the studio division, however, was up 30%. The parks division saw a 2% decline in revenue. Attendance was up, but spending-per-visitor was down.
Disney is expected to earn $0.45 per share in the current quarter, and $1.91 per share for the current year (2010). In 2011. analysts expect to see earnings of $2.22 per share.
