Walt Disney Reports Q4 Results (DIS)
Shares of entertainment conglomerate, Walt Disney Company (NYSE: DIS) edged 2.62% lower in aftermarket trading on Thursday after it announced fiscal fourth-quarter revenue fell short of Street estimates even as earnings came in line with analysts’ consensus estimate.
Walt Disney, which has been involved in spate of acquisitions in the recent past, said that company is now inclined towards achieving growth.
“[Walt Disney] is transitioning out of an investment mode and transitioning into a more-compelling growth mode,” said Walt Disney’s Chief Executive, Robert Iger.
The 14% jump in quarterly profits was mainly attributed to strong performance from its media networks, especially ESPN. The company has posted record profits and revenue for the fiscal 2012. Addressing analysts in a conference call, Mr. Iger said, “These results once again demonstrate our ability to grow earnings in the near term while investing in the long term.”
For the quarter which ended on September 29, the company reported profit of $1.24 or 68 cents compared to $1.09 billion or 58 cents, in the year earlier quarter. Revenue for the period stood at $10.78 billion compared to $10.43, in the year earlier quarter. Analysts polled by Thomson Reuters had most forecasted revenue of $10.92 billion.
For the fiscal 2012, the company posted net income of $5.68 billion, up 18% over the previous fiscal, while revenue climbed 3% to $42.28 billion.
Among Walt Disney’s several segments, revenue from parks and resorts division jumped 9% from the year-earlier period to $3.43 billion.
Revenue from Disney’s media networks division, which includes ESPN, ABC and the Disney Channel, stood at $4.88 billion, up 2% from the year-earlier quarter while revenue from Movie studio unit fell 4% from a year quarter, to $1.4 billion.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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