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

4-Traders Homepage  >  Equities  >  Nyse  >  Walt Disney Co    DIS

Delayed Quote. Delayed  - 09/26 10:01:40 pm
91.96 USD   -1.40%
03:52a WALT DISNEY : Disney Reportedly Working With Adviser On Potential Tw..
09/26DJChina's Wanda Group in Talks to Acquire Dick Clark Productions
09/26DJ76ers Take a Shot at Competitive Videogaming
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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 CEST

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 CO
03:52a WALT DISNEY : Disney Reportedly Working With Adviser On Potential Twitter Bid
09/26DJChina's Wanda Group in Talks to Acquire Dick Clark Productions
09/26DJ76ers Take a Shot at Competitive Videogaming
09/26DJDisney Working With Adviser on Possible Twitter Bid -Bloomberg
09/26DJAHEAD OF THE TAPE : Don't Abandon Carnival's Ship -- WSJ
09/22DJVIACOM : Paramount Takes Write-Down for Movie That Isn't Released Yet
09/21DJViacom's Interim CEO Tom Dooley to Depart; Dividend Cut in Half
09/17DJWALT DISNEY : Disney Adds TV Executive -- WSJ
09/16DJDisney Taps Industry Veteran for Business Post at TV Unit
09/16DJWALT DISNEY : Disney Taps Bruce Rosenblum for Business Post at TV Unit--Update
More news
Sector news : Broadcasting - NEC
09/23 Vivendi hopes to make Mediaset new pay-TV offer next week - source
09/23DJCOMCAST : Buys Out Stake in Hockey Team -- WSJ
09/22DJComcast, Charter Push Into Wireless Comes With Limits
09/22DJCOMCAST : to Buy Remaining Stake in Philadelphia Flyers, Arena--Update
09/22DJCOMCAST : to Buy Remaining Stake in Philadelphia Flyers, Arena
More sector news : Broadcasting - NEC
News from SeekingAlpha
07:00a WALL STREET BREAKFAST : Markets React To Presidential Debate
04:58a Twitter Is Perfect For Disney
09/26 'Magnificent Seven' remake leads in slow film weekend
09/26 Twitter reportedly begins process to evaluate sale as M&A speculation recomme..
09/26 Twitter's video ambitions give Disney likely acquisition hook
Advertisement
Financials ($)
Sales 2016 56 196 M
EBIT 2016 15 164 M
Net income 2016 9 545 M
Debt 2016 17 049 M
Yield 2016 1,54%
P/E ratio 2016 15,83
P/E ratio 2017 15,16
EV / Sales 2016 2,93x
EV / Sales 2017 2,83x
Capitalization 147 789 M
More Financials
Chart WALT DISNEY CO
Duration : Period :
Walt Disney Co Technical Analysis Chart | DIS | US2546871060 | 4-Traders
Full-screen chart
Technical analysis trends WALT DISNEY CO
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 108 $
Spread / Average Target 17%
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 CO-12.49%147 789
COMCAST CORPORATION16.62%158 722
CBS CORPORATION8.49%22 753
SKY PLC-23.34%18 617
GRUPO TELEVISA SAB8.16%14 916
LIBERTY MEDIA GROUP0.00%14 245
More Results