Disney Earnings: DIS Stock Up 1% Following Q1 Beat

Disney (NYSE:DIS) earnings for the entertainment company’s fiscal first quarter of 2020 have DIS stock up after-hours Tuesday. That’s after reporting adjusted EPS of $1.53 beating out Wall Street’s estimate of $1.44. Revenue of $20.86 billion is also better than analysts’ estimates of $20.79 billion.

Disney Earnings: DIS Stock Up 1% Following Q1 Beat

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Now for a closer look at the most recent Disney earnings report.

  • Adjusted per-share earnings are down 16.85% from $1.84 in the same period of the year prior.
  • Revenue comes in 36.34% higher than the $15.30 billion from the fiscal first quarter of 2019.
  • Operating income of $4.00 billion is a 9.29% increase YoY from $3.66 billion.
  • The Disney earnings report also has net income coming in at $2.13 billion.
  • That’s a 23.66% drop compared to its net income of $2.79 billion during the same time last year.

Robert Iger, Chairman and CEO of Disney, says this about the DIS stock earnings.

“We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations. Thanks to our incredible collection of brands, outstanding content from our creative engines and state-of-the-art technology, we believe our direct-to-consumer services, including Disney+, ESPN+ and Hulu, position us well for continued growth in today’s dynamic media environment.”

The Disney earnings report shows it’s off to a good start for fiscal 2020. That’s great since Wall Street is looking for earnings per share of $5.41 on revenue of $81.31 billion for the year.

DIS stock was up almost 1% after markets closed on Tuesday. It closed out the day up 2.41%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/disney-earnings-boost-dis-stock/.

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