Walt Disney Earnings: Here’s Why The Stock Hit A New 52-Week High

S&P 500 (NYSE:SPY) component The Walt Disney Company (NYSE:DIS) reported its results for the second 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 Second Quarter

Results: Net income for the media conglomerate rose to $1.14 billion (63 cents per share) vs. $942 million (49 cents per share) in the same quarter a year earlier. This marks a rise of 21.3% from the year-earlier quarter.

Revenue: Rose 6.1% to $9.63 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: The Walt Disney Company reported adjusted net income of 58 cents per share. By that measure, the company beat the mean estimate of 56 cents per share. Analysts were expecting revenue of $9.56 billion.

Quoting Management: “With 18% adjusted growth in earnings per share, we’re pleased with our second quarter performance,” said Robert A. Iger, Disney Chairman and CEO. “We’re incredibly optimistic about our future, given the strength of our core brands, Disney, Pixar, Marvel, ESPN, and ABC, and our extraordinary ability to grow franchises across our businesses, such as The Avengers, which shattered domestic box office records with a $207.1 million opening weekend for a global performance of more than $702 million to date.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 12.4% and in the fourth quarter of the last fiscal year, the figure rose 30.2%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 9 cents in the first quarter, 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.

Revenue has increased for four consecutive quarters. Revenue increased 0.6% to $10.78 billion in the first quarter. The figure rose 7% in the fourth quarter of the last fiscal year from the year earlier and climbed 6.7% in the third quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the third quarter has moved up from 90 cents a share to 91 cents over the last seven days. Over the past sixty days, the average estimate for the fiscal year has reached $2.95 abs per share, a decline from $3.

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

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