Walt Disney Co (NYSE:DIS) reported on its latest quarter after the bell Tuesday, which yielded strong results, helping to lift shares late in the day.
The entertainment company said that its second quarter of fiscal 2018 brought in adjusted earnings of $1.84 per share, topping the $1.70 per share that analysts were calling for, according to data compiled by Thomson Reuters. Revenue was also strong at $14.55 billion for the period, ahead of the $14.11 billion that the Wall Street consensus estimate called for, according to Thomson Reuters.
Walt Disney’s media and networks business unit raked in $6.14 billion, ahead of the $6.09 billion that analysts surveyed by StreetAccount projected. The company’s parks and resorts segment brought in $4.88 billion, also beating the $4.69 billion that StreetAccount called for.
The company’s studio — which includes its TV shows, films and online media — raked in $2.45 billion, ahead of the $2.19 billion that analysts polled by StreetAccount predicted. Walt Disney’s consumer and interactive segment tallied up revenue of $1.08 billion, better than the $1.14 billion that StreetAccount forecasted in its research.
The company’s earnings comes soon after its agreement to acquire many parts of Twenty-First Century Fox, which will help expand the company’s content portfolio. The move will help Disney get Fox’s television and film studios, sports networks, as well as cable channels such as National Geographic and FX.
DIS shares gained about 0.6% after the bell Tuesday.
