Measles No Match For The Magic Of Disney: Q1 Earnings Soar Above Estimates

Source: Forbes

Maggie McGrath

Here’s one thing anti-vaxxers can’t dispute: the Walt Disney Company had a very solid first quarter. The entertainment giant’s California theme park may have been the epicenter of a measles reemergence that began in December, but based on an earnings report released Tuesday afternoon, the effect has yet to bleed through to the company’s financial results. Disney recorded higher than expected profit and revenue during its first fiscal quarter of 2015, and as a result, shares of Disney are rising fast in Tuesday’s after-hours trading session.

Disney reported $13.4 billion in first quarter revenue, a figure that grew 9% year-over-year and easily cleared the $12.9 billion analyst consensus. Net income for the quarter surged 19% to $2.2 billion and resulted in $1.27 of earnings per share, a figure that grew 23% over the prior-year period and beat the Wall Street estimate by 20 cents per share.

“This was yet another incredibly strong quarter for our company, with diluted earnings per share up 23% driven by record revenue as well as significant growth in segment operating income,” Bob Iger, Disney’s chairman and CEO, said in a statement Tuesday afternoon. “Our results once again reflect the strength of our brands and high quality content and demonstrate that our proven franchise strategy creates long-term value across all of our businesses.”

Within those segments Iger is referring to, the consumer products division saw the largest increase in revenue and operating income. Driven by (surprise, surprise) the sales performance of Frozen-related merchandise in stores and online, consumer products posted a 22% increase in revenue — which grew to $1.4 billion — and a whopping 46% surge in operating income, which came in at $626 million for the quarter.

FULL story at link.




Read more: http://www.forbes.com/sites/maggiemcgrath/2015/02/03/measles-no-match-for-magic-of-disney-q1-earnings-soar-above-estimates/

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This is a stock market post, not entertainment. Disney is one of the most widely held stocks in the US.