3 Media Stocks in Focus: Disney’s Strong Quarter, Lions Gate Beats Estimates, Comcast Goes Galactic
Walt Disney Co. (NYSE:DIS): Shares of Disney have recovered after a post-results dip, as earnings per share of 77 cents beat projections by 1 cent and revenue of $11.57 billion beat by $170 million. Parks and Resorts carried the company for the third quarter, beating estimates and leading the way with operating profit gains of 17 percent; ESPN once again outperformed, as well, as ad demand remained stable; Consumer Products and Disney Interactive saw healthy growth, too. Capital expenditures slowed to $2.8 billion from $3.8 billion for the year through September 28, as several theme park projects are nearing completion.
Lions Gate Entertainment (NYSE:LGF): Lions Gate has reported EPS of 19 cents, beating by 12 cents, and revenue of $498.7 million, which missed by $30.15 million. Revenue from the Motion Picture unit fell 29 percent to $434.4 million in the second quarter, due to a tough comparison to last year’s period, which included the release of The Hunger Games. Overall, total expenses fell 22 percent during the quarter, led by reductions in G&A and distribution spends.
Comcast Corp. (NASDAQ:CMCSA): Comcast’s NBC has inked an agreement with Virgin Galactic to broadcast the latter’s first commercial space flight. Virgin chief and founder Richard Branson will travel into space early next year, accompanied with two of his kids (now adults, it’s worth mentioning) for what will become one of the first private space flights.
Don’t Miss: NBC Will Follow Richard Branson Into Space.