Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Walt Disney Company (The)    DIS

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

The Walt Disney Company : Disney Profit Slips 5.6% as Studio Income Falls

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/05/2013 | 11:06pm CEST

By Nathalie Tadena

Walt Disney Co.'s (DIS) fiscal first-quarter earnings slipped 5.6% as the entertainment giant recorded lower profits at its studio business.

Shares were up 1.1% to $55 after hours as results beat analyst expectations. Through the close, the stock was up 36% over the past 12 months.

Disney had posted stronger per-share earnings over the past two years, largely due to strength in its cable channels and theme parks business. The company has completed several multibillion-dollar acquisitions in recent years, most recently buying Lucasfilm Ltd., owner of the hugely successful "Star Wars" franchise," for $4.05 billion. Other major deals include its acquisition of Marvel Entertainment, the comics giant behind "The Avengers" and other superhero properties, for more than $4 billion in 2009 and its purchase of Pixar Animation for $7.4 billion in 2006.

However, most of Disney's sales comes from its media networks business, which includes ESPN, ABC and the Disney Channel. The division has benefited in particular as sports programming on ESPN commands higher affiliate fees. Disney noted that in the latest quarter, ESPN saw a decrease in operating income due to higher programming and production costs.

The media networks segment, the company's most profitable division, reported a 1.8% improvement in operating income and 6.7% increase in revenue.

In the parks and resorts division, which accounts for nearly a third of revenue, operating income rose 4.3% as revenue increased 7.5%. Disney has spent the past few years investing heavily in the division, including a $1.1 billion overhaul of its California Adventure Park. The division's results were driven by an increase in domestic operations, partially offset by a decrease internationally.

The studio division saw income decline 43% and revenue drop 4.5%. Disney attributed the division's decline in operating income to decreases in home entertainment and theatrical distribution, partially offset by an increase in television and subscription video-on-demand distribution.

Consumer products earnings improved 11% while revenue was up 6.9%.

Overall, for the quarter ended Dec. 29, Disney reported a profit of $1.38 billion, or 77 cents a share, down from $1.46 billion, or 80 cents a share, a year earlier. Excluding special items such as charges related to litigation and expense associated with an equity redemption at Hulu LLC and other items, the latest period's adjusted earnings were 79 cents a share.

Revenue was up 5.2% to $11.34 billion.

Analysts polled by Thomson Reuters most recently projected earnings of 76 cent a share and revenue of $11.21 billion.

-Write to Nathalie Tadena at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WALT DISNEY COMPANY (THE)
06/28 THE WALT DISNEY COMPANY : Declares Semi-Annual Cash Dividend of $0.78 Per Share
06/28 China to relax further curbs on foreign investment
06/27 WALT DISNEY : Studios Presents Upcoming Film Slate from Disney, Pixar, Marvel, a..
06/22 WALT DISNEY : The ABC Television Network Spotlights the Creative Forces and Star..
06/20 WALT DISNEY : Disney Store to Unveil New Product Collections and Collectibles at..
06/16 WALT DISNEY : ESPN announces executive reorganization
06/16 WALT DISNEY : Shanghai Disney Resort Hosts Spectacular One Year Anniversary Cele..
06/16 WALT DISNEY : Disneyland Park Celebrates Summer 2017 with New Enhancements for C..
06/15 WALT DISNEY : Disney Consumer Products and Interactive Media Announces Action-Pa..
06/14 WALT DISNEY : Hong Kong Disneyland Resort Continues Growing as Marvel's Asia Epi..
More news
Sector news : Broadcasting - NEC
06/27DJWhat a Sprint Deal With Comcast and Charter Would Mean for the Wireless Indus..
06/27DJSprint, Charter, Comcast in Talks -- WSJ
06/27DJSprint Enters Into Exclusive Talks With Charter, Comcast On Wireless Deal
06/20 PROSIEBENSAT 1 MEDIA : .1 sells online travel agency Etraveli to CVC
06/15 Sky and Virgin Media join forces for targeted TV advertising
More sector news : Broadcasting - NEC
News from SeekingAlpha
06/28 Walt Disney  declares $0.78 dividend
06/28 DISNEY : Don't Worry About ESPN
06/28 ABC settles 'pink slime' lawsuit from Beef Products Inc.
06/27 Am I Too Old To Start A Dividend Growth Portfolio?
06/27 Is Disney At A Magical Price?
Advertisement
Financials ($)
Sales 2017 56 656 M
EBIT 2017 14 937 M
Net income 2017 9 365 M
Debt 2017 18 615 M
Yield 2017 1,48%
P/E ratio 2017 17,76
P/E ratio 2018 15,62
EV / Sales 2017 3,24x
EV / Sales 2018 3,07x
Capitalization 164 954 M
More Financials
Chart WALT DISNEY COMPANY (THE)
Duration : Period :
Walt Disney Company (The) Technical Analysis Chart | DIS | US2546871060 | 4-Traders
Full-screen chart
Technical analysis trends WALT DISNEY COMPA...
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 117 $
Spread / Average Target 11%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Robert A. Iger Chairman & Chief Executive Officer
Christine M. McCarthy Chief Financial Officer & Senior Executive VP
John S. Chen Independent Director
Robert W. Matschullat Independent Director
Aylwin B. Lewis Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WALT DISNEY COMPANY (T..1.14%164 954
COMCAST CORPORATION13.69%186 161
CBS CORPORATION1.16%28 579
LIBERTY SIRIUS XM GROU..17.99%22 573
LIBERTY BRAVES GROUP16.11%22 573
LIBERTY MEDIA FORMULA ..10.30%22 573
More Results