Disney Earnings Follow-Up
The Walt Disney Company (NYSE: DIS) reported its fourth quarter and full year earnings for fiscal 2013.
Fourth Quarter Earnings:
- Disney reported Q4 EPS of $0.77 versus $0.76 estimate and revenue of $11.60 billion versus $11.40 billion estimate. EPS were up 13 percent from the same quarter last year and sales were up 8 percent year over year.
- Media networks revenue increased 1 percent to $4.9 billion. Media network segment operating income was $1.4 billion, an 8 percent decrease.
- Revenues increased 5 percent to $20.4 billion segment operating income increased 3 percent to $6.8 billion.
- Cable network operating income decreased to $95 million.
- Broadcasting operating income decreased $34 million to $158 million based on an increase in primetime programming costs.
- Park and Resorts revenues increased to $3.7 billion, and operating income increased to $571 million.
Full Year Earnings:
- Revenue was a record $45 billion, up 7 percent.
- EPS were also record high at $3.38 versus $3.13 last year, an 8 percent increase.
- Cable network operating income increased $343 million to $6 billion due to ESPN growth.
- Broadcasting operating income decreased $144 million to $771 million based on an increase in primetime programming costs and lower program sales.
- Park and Resorts revenues increased to $14.1 billion, and operating income increased to $2.2 billion.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.