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 earnings rise despite "John Carter" loss

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/09/2012 | 02:22am CET
A portion of the signage at the main gate of The Walt Disney Co. is pictured in Burbank, California

Walt Disney Co's quarterly earnings beat Wall Street expectations as profit rose 21 percent despite a loss from the science fiction film bomb "John Carter."

Strong attendance at theme parks and higher advertising revenue at cable networks, including sports powerhouse ESPN, helped drive quarterly growth.

The earnings report followed a massive opening weekend for "The Avengers," a superhero movie that set an industry record with ticket sales of $207.4 million over its first weekend. An "Avengers" movie sequel is in the works, Chief Executive Bob Iger told analysts.

The company's film studio needed a hit after "Carter," a $250 million production that dragged the company's studio unit to an operating loss of $84 million for the fiscal second quarter. Studio chief Rich Ross stepped down April 13 after the film flopped.

Despite the studio loss, Disney posted fiscal second quarter earnings of $1.1 billion and a 6 percent increase in revenue to $9.629 billion.

Adjusted earnings per share rose 18 percent to 58 cents. Analysts on average had expected 55 cents.

As in recent quarters, Disney's earnings were boosted by its media unit, which includes ESPN and ABC. Operating earnings in that unit increased 13 percent to $1.7 billion in the latest quarter.

Visitors kept filling Disney theme parks, and the Disneyland resort in California set a second-quarter attendance record, Chief Financial Officer Jay Rasulo said. Earnings at the theme park unit rose 53 percent to $222 million.

"You've got a parks recovery that's underway, and you have a cable network business that's best in class. It showed good growth on the top-line," said Janney Montgomery Scott analyst Tony Wible, who rates Disney a "buy" with a $49 price target.

At the ABC television network, ad rates rose 6 percent, Rasulo said. In the current quarter, ad pricing is running 20 percent higher than rates it got during the "upfront" selling season last spring, he said.

Looking ahead, Iger said he expected "a very strong upfront marketplace" after the network pitches its new shows to advertisers next week.

The quarterly results do not include the staggering results from "Avengers," the Marvel superhero movie that has already pulled in $702.2 million around the globe. Since the opening, "Avengers" merchandise has flown off shelves at stores and Disney parks, CEO Bob Iger told analysts. Some products have sold out, and the company is working to meet demand, he said.

"Interest is clearly keen wherever our Marvel characters are touching the public," he said.

Disney's ABC News unit and Univision also said on May 7 that they would create an English language cable channel aimed at the booming Hispanic market, a bid to expand its news operation that it struggled for years to find.

Iger said Disney was "excited about the opportunity" to reach the growing Hispanic market. But he said the company made a "relatively modest" investment in the project that will yield a "relatively small" impact on the company's overall business.

(Reporting By Lisa Richwine; Editing by Bernard Orr)

By Lisa Richwine and Ronald Grover

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WALT DISNEY COMPANY (THE)
12/12 WALT DISNEY : Why Walt Disney Co. Still Represents Value at Its Current Valuatio..
12/12 WALT DISNEY : Comcast, Fox Deal Off
12/12DJWALT DISNEY : Comcast Ends Its Pursuit of Fox Assets -- WSJ
12/12 Comcast drops bid for Fox assets, leaving Disney in pole position
12/11DJWALT DISNEY : Disney Deal for Fox Would End Era of the 'Big Six' Studios
12/11DJWALT DISNEY : Disney Deal for Fox Would End Era of the 'Big Six' Studios
12/08DJTelecoms Up on Deals View -- Telecoms Roundup
12/08DJTelecoms Up on Deals View -- Telecoms Roundup
12/08 Disney Board Elects Oracle's Safra Catz and Illumina's Francis A. deSouza as ..
12/08 SAFRA CATZ : Oracle's Safra Catz among two new members named to Disney board
More news
News from SeekingAlpha
12/12 VERIZON : Overpaying For Non-Exclusive NFL Rights
12/12 CNBC : Disney on 'glide path' for Thursday Fox asset deal
12/12 WALL STREET BREAKFAST : Investors Ready For FOMC Meeting
12/11 BLOOMBERG : Fox-Disney deal could come this week with stake for Murdochs
12/11 Disney's 'Coco' outpunches 'Justice League' for third week
Financials ($)
Sales 2018 58 650 M
EBIT 2018 15 186 M
Net income 2018 9 478 M
Debt 2018 20 238 M
Yield 2018 1,60%
P/E ratio 2018 17,06
P/E ratio 2019 16,22
EV / Sales 2018 3,10x
EV / Sales 2019 3,02x
Capitalization 161 B
Chart WALT DISNEY COMPANY (THE)
Duration : Period :
Walt Disney Company (The) Technical Analysis Chart | DIS | US2546871060 | 4-Traders
Technical analysis trends WALT DISNEY COMPANY (THE)
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 109 $
Spread / Average Target 2,2%
EPS 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
Sector and Competitors
1st jan.Capitalization (M$)
WALT DISNEY COMPANY (THE)1.00%161 347
COMCAST CORPORATION9.92%179 660
LIBERTY SIRIUS XM GROUP22.71%23 465
LIBERTY MEDIA FORMULA ONE5.74%23 465
LIBERTY BRAVES GROUP7.03%23 465
CBS CORPORATION-10.09%23 096