The Walt Disney Co. (NYSE: DIS) released fiscal fourth-quarter financial results after markets closed Tuesday. The Mouse House said that it had $1.07 in earnings per share (EPS) and $19.1 billion in revenue, compared with consensus estimates that called for $0.95 in EPS and $19.04 billion in revenue. The same period from last year had $1.48 in EPS and $14.31 billion in revenue.
Media Networks revenues for the quarter increased 22% to $6.51 billion and segment operating income decreased 3% to $1.78 billion. This was comprised of Cable Networks and Broadcasting which had revenues of $4.24 billion and $2.27 billion, respectively.
Parks, Experiences and Products revenues for the quarter increased 8% to $6.7 billion, and segment operating income increased 17% to $1.4 billion. Operating income growth for the quarter was due to increases from merchandise licensing, Disneyland Resort and Disney Vacation Club.
Studio Entertainment revenues for the quarter increased 52% to $3.3 billion and segment operating income increased 79% to $1,079 million. Higher operating income was due to an increase in theatrical distribution results, partially offset by a loss from the consolidation of the TFCF businesses.
Direct-to-Consumer & International revenues for the quarter increased from $0.8 billion to $3.4 billion and segment operating loss increased from $340 million to $740 million. The increase in operating loss was due to the consolidation of Hulu, costs associated with the upcoming launch of Disney+ and the ongoing investment in ESPN+, which was launched in April 2018.
Bob Iger, chairman and CEO, commented:
Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses. We’ve spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience, and we’re excited for the launch of Disney+ on November 12.
Shares of Disney closed Thursday at $133.13, with a 52-week range of $100.35 to $147.15. The consensus analyst price target is $151.04. Following the announcement, the stock was up nearly 6 4% at $138.03 in the after-hours session.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
