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Disney Misses Q1 Sales, Consumer Products Down 23%

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Disney Misses Q1 Sales, Consumer Products Down 23%
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Walt Disney Co (NYSE: DIS) is off to a better 2017, up nearly 5 percent year-to-date after being just one of two negative performing Dow stocks in 2016. Disney released its highly anticipated first quarter report after the market closed Tuesday.

  • Disney reports Q1 EPS $1.55, beats by $0.05
  • Revenues $14.78 billion, misses by $480 million
  • Media Networks experienced 2 percent decline in revenue to $6.23 billion
  • Parks and Resorts grew 6 percent with $4.55 billion
  • Studio Entertainment was down 7 percent to $2.52 billion
  • Consumer Products & Interactive Media was down 23 percent to $1.47 billion

"We're very pleased with our financial performance in the first quarter. Our Parks and Resorts delivered excellent results and, coming off a record year, our Studio had three global hits including our first billion-dollar film of fiscal 2017, Rogue One: A Star Wars Story," said CEO Robert Iger. "With our proven strategy and unparalleled collection of brands and franchises, we are extremely confident in our ability to continue to drive significant value over the long term."

The stock was down about 1.5 percent at $107.30 in the after-hours trading session.

Posted-In: Earnings News After-Hours Center Movers Best of Benzinga

 

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