The Walt Disney Company (NYSE:DIS) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the entertainment company rose to $1.09 billion (58 cents per share) vs. $835 million (43 cents per share) in the same quarter a year earlier. This marks a rise of 30.2% from the year earlier quarter. Revenue rose 7% to $10.43 billion from the year earlier quarter. DIS beat the mean analyst estimate of 55 cents per share. Analysts were expecting revenue of $10.36 billion.
“Fiscal 2011 was a great year financially and strategically, demonstrating the strength of our brands and businesses with record revenue, net income and earnings per share,” said Disney President and CEO Robert A. Iger. “We are confident the Company is well-positioned to deliver long-term value for our shareholders with our focus on quality content, compelling uses of technology and global asset growth.”
Competitors to Watch: CBS Corporation (NYSE:CBS), News Corporation (NASDAQ:NWSA), Time Warner Inc. (NYSE:TWX), Comcast Corporation (NASDAQ:CMCSA), Journal Communications, Inc. (NYSE:JRN), Cumulus Media Inc. (NASDAQ:CMLS), Scripps Networks Interactive, Inc. (NYSE:SNI), Entravision Communication (NYSE:EVC), and Entercom Communications Corp. (NYSE:ETM).
Melco Crown Entertainment Limited (NASDAQ:MPEL) reported net income above Wall Street’s expectations for the third quarter. Net income for the resort and casino company rose to $113.3 million (21 cents per share) vs. $15.8 million (3 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter. Revenue rose 45.1% to $1.06 billion from the year earlier quarter. MPEL beat the mean analyst estimate of 19 cents per share. It beat the average revenue estimate of $963.6 million.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, “I am delighted to announce another quarter of record Adjusted EBITDA and net income for our Company, representing the ninth consecutive quarter of sequential improvement in hold-adjusted EBITDA. These results build on the significant achievements delivered through the first half of 2011 and demonstrate our ability to deliver sustained high-quality results, with strong company-wide performance across all segments, despite the introduction of additional supply in the market.”
Competitors to Watch: Melco Crown Entertainment Ltd. (NYSE:MAS), Wynn Resorts, Limited (NASDAQ:WYNN), MGM Resorts International. (NYSE:MGM), Las Vegas Sands Corp. (NYSE:LVS), Century Casinos, Inc. (NASDAQ:CNTY), Ameristar Casinos, Inc. (NASDAQ:ASCA), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), Trans World Corporation (TWOC), Riviera Holdings Corp. (RVHLQ), and Pinnacle Entertainment, Inc (NYSE:PNK).