Walt Disney Co (DIS) Tops Earnings Estimates, Misses Revenue Outlook

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Walt Disney Co (NYSE:DIS) reported its latest quarterly earnings results late Tuesday.

Walt Disney Co (DIS) The company posted adjusted earnings of $1.89 per share, ahead of the $1.61 per share that analysts polled by Thomson Reuters were calling for. The figure was aided by the recent change in U.S. tax law, along with other one-time benefits that gave the company an additional $1.6 billion.

Revenue came in at $15.35 billion during Disney’s first quarter of fiscal 2018. The Wall Street consensus estimate had projected revenue of $15.45 billion, according to Thomson Reuters.

Several of its segments missed the mark on the revenue front as well, including its media and networks branch, which raked in $6.24 billion. Analysts’ outlook called for revenue of $6.35 billion in this category.

Disney’s studio revenue was $2.5 billion, missing the consensus estimate of $2.75 billion. Meanwhile, its consumer and interactive segment revenue was $1.45 billion, below the $1.52 billion that analysts were calling for.

A bright spot for the company was its parks and resorts segment, which brought in $5.15 billion, stomping the $4.86 billion that Wall Street called for in its forecast.

There’s a lot to look forward to for Disney moving forward as the company said it was launching a stand-alone streaming service in 2019, while also removing its movies from other streaming services. The company added that the price of its service will be lower than other streaming platforms since it wouldn’t stream as many movies and shows as other services initially.

DIS stock gained 2.7% after hours Tuesday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/walt-disney-co-dis-2/.

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