Shares of Walt Disney Co. are trading lower in Tuesday's after-hours trading following a strong earnings report. Walt Disney (NYSE: DIS) reported Q3 EPS of $1.62 versus estimates of $1.61. Sales were $14.277 million versus estimates of $14.15 billion.
"Cable Networks revenues for the quarter increased 1% to $4.2 billion and operating income increased 1% to $2.1 billion. The increase in operating income was due to growth at ESPN, partially offset by a decrease at the Disney Channels, lower equity income from A&E and lower Freeform results."
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- Media Networks revenue rose 2 percent year-over-year versus prior gain of 5 percent.
- Parks & Resorts revenue rose 6 percent year-over-year versus prior gain of 4 percent.
- Entertainment revenue rose 40 percent year-over-year versus prior gain of 13 percent.
- Consumer Products revenue fell 1 percent year-over-year versus prior gain of 6 percent.
- Interactive revenue rose 9 percent year-over-year versus prior loss of 22 percent.
- The company also reported a minority stake in BAMTech, a video streaming provider previously formed by Major League Baseball.
Shares of Wal Disney closed Tuesday's regular session up $0.92 or 0.96 percent to $96.67.