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Disney Beats Fiscal Q3 Views; Net Gains 22% On 8% Revenue Growth

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The Walt Disney Company (NYSE: DIS) fiscal third-quarter top-and bottom-line results beat Wall Street estimates, although operating earnings at its largest segment were flat.

Net earnings climbed 22 percent on an eight percent revenue gain.

The company's largest segment, media networks, posted flat operating income of $2.3 billion on revenue growth of three percent to $5.5 billion. Within the media networks segment, cable networks' operating income fell seven percent to $1.9 billion due to a decrease at ESPN, partially offset by an increase at ABC Family.

Gains at domestic operations pushed the parks and resorts' segment revenue up eight percent to $4 billion and segment operating income jumped 23 percent to $848 million.

Studio Entertainment revenue grew 14 percent to $1.8 billion and segment operating income increased to $411 million on gains increases in worldwide home entertainment and international theatrical distribution.

Growth in licensing drove a 16 percent revenue gain to $902 million in the consumer products segment where income increased 25 percent to $273 million.

Game sales growth drove a 45 percent increase in interactive revenue, while operating results swung to a gain of $29 million from a loss of $58 million in the year-earlier period.

Disney posted total earnings of $2.25 billion, or $1.28 per share, compared with $1.85 billion, or $1.01 per share, in the year-earlier period. Revenue grew to $12.45 billion, from $11.58 billion.

Wall Street expected earnings of $1.17 on revenue of $12.16 billion.

Disney was nearly unchanged after-hours at $86.99, a gain of 0.28 percent.

Posted-In: Earnings News After-Hours Center


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