The Walt Disney Company (NYSE: DIS) Climbs 4% after Results
November 13, 2009 12:21 PM
The Walt Disney Company (NYSE: DIS) yesterday announced its fourth quarter adjusted earnings of $0.46 a share and revenue of $9.87 billion, beating Thomson Reuters earnings estimates of $o.41 per share and revenue estimates of $9.31 billion. Profit increased by 18% to $895 million.
Results beat analyst’s estimation as Walt Disney generated strong results due to cable network ESPN and syndication sales of Grey’s Anatomy and Desperate Housewives. Additionally, DIS also focused on their long term strategy and also took investment initiatives to enhance their future growth potential.
Yesterday, Walt Disney also announced a senior management change. Thomas O. Staggs will become Chairman of Walt Disney Parks and Resorts now.
The Walt Disney Company (NYSE: DIS) surged 4.75% to $30.42 on huge volume of 12.77 million shares in the morning trading hours. The Walt Disney also made a new high today at $30.48 after breaking its previous 52 week high. The Walt Disney Company (NYSE: DIS) gained over 34% so far in the current fiscal.
