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Disney Earnings, Revenue Meet Analyst Estimates

The Walt Disney Co. met analyst estimates on revenue and earnings per share in the first quarter, helped by strong increases in its media networks and theme park and resorts. The Burbank entertainment and media conglomerate reported net income of $1.4 billion (77 cents a share) for the quarter ending Dec. 29 compared with $1.5 billion (80 cents) in the same period a year earlier. Revenue rose 5 percent to $11.3 billion. Analysts had forecast revenue of $11.2 billion and earnings per share of 76 cents, according to Thomson Financial Network. The studio entertainment division was the only Disney business unit to have a decrease of revenue in the first quarter, dropping 5 percent to $1.5 billion due to low sales of the DVD version of the “Cinderella” Diamond Release, and marketing costs for “Lincoln” and “Monsters Inc. 3D.” Media networks, which includes ABC Television and ESPN, increased revenue by 7 percent to $5.1 billion; parks and resorts revenue also increased 7 percent to $3.4 billion; consumer products revenue rose 7 percent to $1 billion; and interactive revenue increased by 4 percent to $291 million. Shares of Disney closed up 39 cents or less than 1 percent at $54.29.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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