Disney Posts Upbeat Q3 Profit, But Revenue Misses Views

reported better-than-expected earnings for its fiscal third quarter, but the company's revenue missed analysts' expectations. The Burbank, California-based company reported a quarterly profit of $2.48 billion, or $1.45 per share, versus a year-ago profit of $2.25 billion, or $1.28 per share. Its revenue climbed 5 percent to $13.1 billion. However, analysts were projecting earnings of $1.42 per share on revenue of $13.23 billion. The average estimate among 111 Estimize users was for earnings of $1.45 per share and revenue of $13.27 billion. Media Networks revenue rose 5 percent year-over-year to $5.8 billion for the quarter, while Parks and Resorts revenue gained 4 percent to $4.1 billion. Studio Entertainment revenue climbed 13 percent to $2.0 billion, while Consumer Products revenue surged 6 percent to $954 million. Interactive revenue for the recent quarter shrank by $58 million to $208 million. "We're very pleased with our performance in the third quarter, with record net income and diluted earnings per share of $1.45, up 13% from the prior year," said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. "The strong results across our many diverse lines of business demonstrate the power of our unparalleled brands, franchises and creative content." Disney shares fell 2.17 percent to $119.05 in the after-hours trading session.