Disney Up Slightly After Q1 Results Beat Estimates

Shares of blue-chip entertainment conglomerate Walt Disney

were trading a little less than 1 percent higher in Tuesday's after hours session in the wake of solid first-quarter results at the company. Disney reported net income for the period was $1.38 billion or $0.77 per share, from $1.46 billion or $0.80 per share, in the year ago period. Excluding special charges, earnings per share in the quarter were $0.79 versus $0.80 in last year's first-quarter. This beat analysts' consensus of $0.76 per share. Revenue in the quarter rose to $11.34 billion from $10.78 billion in last year's corresponding period. This also beat analysts' consensus of $11.21 billion. Investors are reacting favorably to the company's top-line growth, but the reaction in the stock is likely to be limited because of lower company-wide margins. Nevertheless, shares have been hot of late, rising around 8 percent in three-month's time.