Disney is its own superhero after earnings
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.