We would note that Star Wars is likely to not have any major impact in the near-term on Disney’s revenue and non-GAAP earnings but it will impact its expenses, balance sheet, and earnings in a negative manner ahead until it gets another Star Wars film behind it. Until then, Disney has many new film releases coming: Iron Man 3, Oz, Lone Ranger, and Monsters University.
Disney said that it had 7% sales growth to $5.1 billion in its Media Networks unit, its Parks and Resorts grew by 7% to $3.4 billion, and it saw 7% growth to $1 billion in its Consumer Products. Its interactive unit saw at a slower growth of 4% to $291 million and its Studio Entertainment sales were down by 5% to $1.5 billion.
Shares closed up by 0.7% at $54.28 versus a 52-week trading range of $40.20 to $54.87 and the consensus analyst price target from Thomson Reuters was $57.25.
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