Dis­ney is its own su­per­hero af­ter earn­ings

Financial Mirror (Cyprus) - - FRONT PAGE -

Walt Dis­ney Co. (NYSE: DIS) re­ported its fis­cal sec­ond-quar­ter fi­nan­cial re­sults be­fore the mar­kets opened Tues­day. The Mouse House had $1.23 in earn­ings per share (EPS) on $12.46 bln in rev­enue. That com­pared to Thom­son Reuters con­sen­sus es­ti­mates of $1.11 in EPS and $12.25 bln in rev­enue. The same pe­riod from last year had $1.11 in EPS on $11.65 in rev­enue.

On the books, Dis­ney re­ported $3.75 bln in cash and cash equiv­a­lents to end the fis­cal sec­ond quar­ter. And it re­ported free cash flow of $2.87 bln, com­pared to $2.38 bln in the same quar­ter of last year.

In terms of its seg­ments, com­pared to the year ear­lier, Me­dia Net­works in­creased rev­enues by 13% to $5.81 bln, Parks and Re­sorts in­creased rev­enues by 6% to $3.76 bln, Stu­dio En­ter­tain­ment rev­enues dropped 6% to $1.69 bln, Con­sumer Prod­ucts in­creased rev­enues by 10% to $971 mln, and In­ter­ac­tive rev­enues fell 12% to $235 mln.

“The power of this win­ning com­bi­na­tion is once again re­flected in the phe­nom­e­nal world­wide suc­cess of Marvel’s “Avengers: Age of Ul­tron”, which has opened at num­ber one in ev­ery mar­ket so far,” said Chair­man and CEO Robert A. Iger.

Shares of Dis­ney closed Mon­day up 0.5% at $111.03. Af­ter the earn­ings re­port came out, shares were up 2% at $113.38 in pre­mar­ket trad­ing, push­ing new highs. The stock has a con­sen­sus an­a­lyst price tar­get of $110.96 and a 52-week trad­ing range of $78.54 to $111.66.

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