Walt Disney Ticks Lower Despite Sizable EPS Beat
Shares of The Walt Disney Company (NYSE: DIS) are trading lower in the after-hours following the release of the company's Q1 earnings results. Currently, shares are lower by 2.42%, trading at $39.99; they ended the regular session higher by 1.29%, at $40.98.
Walt Disney reported Q1 EPS of $0.80 on revenues of $10.78 billion; the Street was looking for $0.72 per share. Operating income at Cable Networks increased $196 million to $967 million for the quarter due to growth at ESPN and, to a lesser extent, the worldwide Disney Channels.
"We're off to a good start in this fiscal year executing on our ongoing strategy, deriving greater value from our brands -- Disney, Pixar, Marvel, ESPN and ABC -- in the U.S. and around the globe," said Disney President and CEO Robert A. Iger.
"We are confident that our commitment to creating and providing exceptional family entertainment on multiple platforms continues to position us to deliver long-term shareholder value."
The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive Media.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.