The Walt Disney Co. (DIS - Free Report) just released its second quarter fiscal 2017 financial results, posting earnings of $1.50 per share and revenues of $13.336 billion. Currently, DIS is a #3 (Hold), and is down 1.67% to $110.25 per share in trading shortly after its earnings report was released.
Disney:
Beat earnings estimates. The company reported earnings of $1.50 cents per share, beating the Zacks Consensus Estimate of $1.45 per share and gaining 10% from the prior-year period.
Missed revenue estimates. The company saw revenues of $13.336 billion, just falling short of our consensus estimate of $13.48 billion but increasing 3% year-over-year.
Media networks revenues increased 3% to $5.9 billion, but segment operating income decreased 3% to $2.2 billion.
Cable Networks revenues also increased 3% to $4.1 billion, while operating income here declined 3% to $1.8 billion, mainly due to a decrease at ESPN, though this was partially offset by increases at the Disney Channel and Freeform.
During Q2, the decrease at ESPN was due to higher programming costs because of the shift in timing of College Football Playoff (CFP) bowl games relative to Disney’s fiscal quarter end, in addition to contractual rate increases for NBA programming.
Disney’s Studio Entertainment revenues for the quarter decreased 1% (though it increased 18% year-over-year) to $2.0 billion and segment operating income increased 21% to $656 million thanks to Beauty and the Beast’s strong theatrical performance. The live-action remake has already made $1 billion at the global box office.
“Disney delivered another quarter of double-digit EPS growth, driven by the strong performance of our Studio and Parks and Resorts,” said CEO Robert A. Iger. “Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth. We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
Here’s a graph that looks at Disney’s price, consensus, and EPS surprise:
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media.
Zacks' 2017 IPO Watch List
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The Walt Disney Co. (DIS - Free Report) just released its second quarter fiscal 2017 financial results, posting earnings of $1.50 per share and revenues of $13.336 billion. Currently, DIS is a #3 (Hold), and is down 1.67% to $110.25 per share in trading shortly after its earnings report was released.
Disney:
Beat earnings estimates. The company reported earnings of $1.50 cents per share, beating the Zacks Consensus Estimate of $1.45 per share and gaining 10% from the prior-year period.
Missed revenue estimates. The company saw revenues of $13.336 billion, just falling short of our consensus estimate of $13.48 billion but increasing 3% year-over-year.
Media networks revenues increased 3% to $5.9 billion, but segment operating income decreased 3% to $2.2 billion.
Cable Networks revenues also increased 3% to $4.1 billion, while operating income here declined 3% to $1.8 billion, mainly due to a decrease at ESPN, though this was partially offset by increases at the Disney Channel and Freeform.
During Q2, the decrease at ESPN was due to higher programming costs because of the shift in timing of College Football Playoff (CFP) bowl games relative to Disney’s fiscal quarter end, in addition to contractual rate increases for NBA programming.
Disney’s Studio Entertainment revenues for the quarter decreased 1% (though it increased 18% year-over-year) to $2.0 billion and segment operating income increased 21% to $656 million thanks to Beauty and the Beast’s strong theatrical performance. The live-action remake has already made $1 billion at the global box office.
“Disney delivered another quarter of double-digit EPS growth, driven by the strong performance of our Studio and Parks and Resorts,” said CEO Robert A. Iger. “Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth. We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
Here’s a graph that looks at Disney’s price, consensus, and EPS surprise:
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Could you imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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