Highlights From Disney's Q3 2014 Conference Call - Walt Disney (NYSE:DIS)

The Walt Disney CompanyDIS

hosted its Q3 2014 conference call on Tuesday, releasing sales results and some guidance. Before the call, Disney reported its Q3 earnings with a record high EPS for the company of $1.28 beating analyst estimates of $1.16 and revenue of $12.466 billion, above consensus $12.149 billion.

Guardians of the Galaxy generated $106 million as of Monday.
Repurchased 22.8 million shares over the quarter.
Hope to set official date for new release at Disney Shanghai sometime in the next six months.
The World Cup producing 44 million live viewing hours benefited add revenue and ESPN.
Media Networks revenues for the quarter increased three percent to $5.5 billion and segment operating income was relatively flat at $2.3 billion.
Due to ESPN sub losses, operating income for Disney's Cable Networks segment decreased by seven percent to $1.9 billion, partially offset by solid performance at ABC Family. Add revenue increased by 10 percent in the quarter due to the World Cup. ESPN has recognized all deferred revenue for the year,even earlier than anticipated.
Operating income at Broadcasting surged by 66 percent to $354 million, influenced by an increase in affiliate fees and a non-recurring increase in income from program sales.
Parks and Resorts revenues increased by eight percent in the quarter to $4.0 billion and segment operating income of $848 million, increasing by 23 percent. Program sales performed well within Disney's Broadcasting segment due to lower average expense amortization rate and higher revenues led by Marvel's Agents of S.H.I.E.L.D.
Operating income doubled in the quarter, due to the great success rate of its Frozen movie and relative products to the animation.
International parks declined, partially offset by Disneyland Paris. Occupancy in its hotels segment was 82 percent for the quarter.
Consumer Products revenues increased by 16 percent to $902 million. Segment operating income increased by 25 percent to $273 million. Operating income was strong during the quarter due to growth within its Retail and Merchandise Licensing businesses.
Disney's Interactive segment generated revenue for the quarter of $266 million increasing by 45 percent and segment operating results increasing from a loss of $58 million to income of $29 million.
Management claims it is not focusing on any additional M&A in the near term, the company stated it feels content with its past few deals, including Lucas Films in 2012.

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