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 Co    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

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
01/18 THE WALT DISNEY COMPANY : Executives to Discuss Fiscal First Quarter 2017 Financ..
01/17 WALT DISNEY : Fine Art Photographer Gray Malin Debuts “The Red Carpet Seri..
01/11 Trump rally makes stock options great again for some CEOs
01/11 Trump rally makes stock options great again for some CEOs
01/08DJWALT DISNEY : Rogue One,' a Hit in Most of the World, Opens to So-So Numbers in ..
01/04 WALT DISNEY : Football carried NBC, ESPN to big wins in audience last week
01/04 WALT DISNEY : CORRECTING and REPLACING Disney and ABC Invite Families to Read To..
01/03DJWALT DISNEY : Rogue One' Leads Again -- WSJ
01/02 WALT DISNEY : 'Rogue One' tops box office for third straight weekend
2016 U.S. stock market performance in 2016
More news
Sector news : Broadcasting - NEC
01/20 EXCLUSIVE - VIVENDI OPEN TO RESTART : sources
01/20DJAT&T's DirecTV Now Added 200,000 Subscribers in First Month
01/18 LIBERTY MEDIA : F1 body approves Liberty Media takeover
01/13 FTSE hits record highs, extends historic winning streak
01/10DJCBS : TV Network Executives to Skip Press Panel
More sector news : Broadcasting - NEC
News from SeekingAlpha
12:52p Dump Disney, Barron's says
01/20 Langer named CFO at ABC Television Group
01/20 4 Reasons I Prefer Disney Over Netflix
01/19 Is The Next Leg Higher For Equities On The Horizon?
01/19 ONE STEP CLOSER TO FINANCIAL FREEDOM : My 2016 Income Review
Advertisement
Financials ($)
Sales 2017 57 537 M
EBIT 2017 15 145 M
Net income 2017 9 368 M
Debt 2017 17 355 M
Yield 2017 1,45%
P/E ratio 2017 18,21
P/E ratio 2018 16,21
EV / Sales 2017 3,27x
EV / Sales 2018 3,09x
Capitalization 170 515 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
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 111 $
Spread / Average Target 3,2%
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 CO3.30%170 515
COMCAST CORPORATION6.55%176 041
CBS CORPORATION-0.20%29 706
SKY PLC0.61%21 240
LIBERTY MEDIA GROUP-7.11%15 246
GRUPO TELEVISA SAB4.73%12 035
More Results