Disney (DIS) earnings sure don’t look like any Mickey Mouse or Goofey results so far on the surface. The company posted EPS of $0.36 instead of $0.33 estimates and revenues of $8.7 Billion instead of $8.67 Billion. The company said earnings growth was from growth at its Studio Entertainment, Parks & Resorts, networks, broadcasting, and consumer products.“Disney had a spectacular year, posting record revenues, record net income, and record cash flow,” said Bob Iger, president and chief executive officer of the Walt Disney Company. “It is a result of the incredible creativity at our company.”DIS also repurchased 96 million shares in the quarter for some $2.8 Billion to bring total buybacks to 243 million shares. We’ll have to see what sort of guidance the company gives in its conference call. So far shares are up 0.2% at $33.65, but shares were up 1.45% to $33.58 in normal trading.One thing to note is that DIS is often criticized after the fact on the same day as earnings for showing items and the like, so that may be the reason for the muted response and immediate profit taking. Shares had initially jumped 1% after the report headlines. DIS 52-week trading range is $23.77 to $33.24.Jon C. OggNovember 9, 2006
Disney Up Marginally After Earnings
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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