The Walt Disney Company Earnings: Rise in Profit

S&P 500 (NYSE:SPY) component The Walt Disney Company (NYSE:DIS) reported net income above Wall Street’s expectations for the first quarter. Walt Disney is an entertainment company with operations in: media networks, parks and resorts, studio entertainment, and consumer products.

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The Walt Disney Company Earnings Cheat Sheet for the First Quarter

Results: Net income for The Walt Disney Company rose to $1.46 billion (80 cents per share) vs. $1.3 billion (68 cents per share) in the same quarter a year earlier. This marks a rise of 12.4% from the year earlier quarter.

Revenue: Rose 0.6% to $10.78 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: The Walt Disney Company beat the mean analyst estimate of 71 cents per share. It fell short of the average revenue estimate of $11.2 billion.

Quoting Management: “We’re off to a good start in this fiscal year executing on our ongoing strategy, deriving greater value from our brands – Disney, Pixar, Marvel, ESPN and ABC – in the U.S. and around the globe,” said Disney President and CEO Robert A. Iger. “We are confident that our commitment to creating and providing exceptional family entertainment on multiple platforms continues to position us to deliver long-term shareholder value.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 4 cents in the fourth quarter of the last fiscal year and by 5 cents in the third quarter of the last fiscal year.

Looking Forward: Expectations for the company’s next quarter performance are more favorable than they were a month ago. The average estimate for the second quarter is now at 61 cents per share, up from 61 cents. The average estimate for the fiscal year is $2.91 per share, a rise from $2.88 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com