Disney Loses 6% After Q4 Results; Stock at 4 Month Low

Walt Disney DIS released its fiscal fourth-quarter earnings results on Thursday after the closing bell. In the wake of the results, the stock has fallen almost 6 percent on Friday and is sitting near a four month low. At last check, shares were trading hands at $47.07. The company reported net income of $1.24 billion or $0.68 per share in the quarter, compared to $1.09 billion or $0.58 per share, in last year's corresponding period. This was in-line with Wall Street analysts' consensus earnings per share estimates of $0.68. Revenue in the fourth quarter was up 3 percent to $10.78 billion from $10.43 billion last year. This came up short of Wall Street revenue expectations of $10.92 billion. Revenue at the company's media networks segment, which includes ESPN and ABC, were up 2 percent to $4.88 billion. Operating income in the division rose 7 percent to $1.57 billion driven by gains in the cable networks segment. Revenue from the company's parks and resorts rose 9 percent to $3.43 billion and operating income jumped 18 percent to $497 million. The studio and entertainment division saw sales fall 4 percent in the fourth quarter to $1.4 billion and operating income plunged 32 percent to just $80 million. The results were negatively impacted by a decrease in worldwide theatrical results. Consumer products revenue rose 8 percent to $883 million in the quarter and operating income surged 29 percent to $267 million. Interactive Media revenue was down 14 percent to $191 million and the division reported an operating loss of $76 million. Last month, Disney agreed to buy Lucasfilm Ltd. from Star Wars creator George Lucas in a $4.05 billion cash and stock deal. The company said that it plans to release a new Star Wars film every two to three years.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceIntraday UpdateMovers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!