Shares of Disney gain in after-hours trade after earnings beat
Shares of the Walt Disney Co. DIS, -0.90% gained 1.9% in after-hours trade Thursday after the company reported fourth-quarter earnings that beat expectations. Profit for the latest quarter rose to $2.32 billion, or $1.55 a share, up from $1.75 billion, or $1.13 a share, in the year-earlier quarter. Adjusted EPS was $1.48 a share, beating the FactSet consensus of $1.34. Revenue was $14.3 billion, beating the FactSet consensus of $13.7 billion, and up 12% from $12.8 billion one year ago. Revenue from the company’s media networks rose to $5.96 billion, up 9% from $5.47 billion a year ago. Revenue from parks and resorts came in at $5.07 billion, 9% up from $4.67 billion a year ago. Disney’s studio entertainment segment brought in $2.15 billion in revenue, up 50% from $1.43 billion last year, thanks to strong box office numbers from "Black Panther," "Star Wars: The Last Jedi," "Avengers: Infinity War" and "Incredibles 2." Revenue from consumer products and interactive media fell to $1.12 billion, down 8% from $1.22 billion in the year-earlier quarter. Shares of Disney have gained 7.9% so far this year, while the S&P 500 SPX, -0.25% has gained 5% and the Dow Jones Industrial Average DJIA, +0.04% has gained 5.9%.
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