Disney's Q2 Results Boosted By 'Frozen,' Shares Edge Higher
Shares of Disney (NYSE: DIS) are up almost one percent Tuesday afternoon following a top- and bottom-line beat. At last check the issue was trading 0.7 percent higher at $81.60.
Quarterly non-GAAP EPS of $1.11 was 40.5 percent higher than the second quarter last year and better than the $0.95 analysts were expecting. Disney's GAAP EPS figured totaled $1.08.
Revenue for the company's second quarter was $11.649 billion, up 10 percent versus the $10.554 billion reported in the same quarter last year. The result was $420 million, or 3.74 percent higher than Disney analysts on the Street were expecting.
Sales to Disney's Media Networks unit rose four percent to around $5.13 billion, sales to the Parks and Resorts segment were up eight percent to $3.56 billion, Studio Entertainment revenue climbed 35 percent to $1.8 billion, Consumer Products sales were up 16 percent to $885 million and sales at the Interactive segment jumped 38 percent to $268 million.
Disney CEO Robert Iger commented, “Our continued strong performance reflects the strength of our brands, the quality of our content, and our unique ability to leverage creative success across the entire Company to drive value.”
In the conference call following the report, Disney emphasized that "Frozen" was the highest grossing animated film of all time and stated, “We will take full advantage for next five years.”
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