Disney Posts Record-High Earnings
Disney Posts Record-High Earnings
The Walt Disney Company issued its fiscal third-quarter results Tuesday, posting a record-high in earnings while easily beating Wall Street estimates despite a slight miss in revenue. Investors were not seemingly impressed, however, as shares rose just a fraction in Tuesday trading, but the company has been the second-best performing stock on the Dow Jones this year behind Bank of America with a year-to-date gain of over 30 percent. The stock reached an all-time high of just over $50 a share late last month.
In the three months ended June 30th, Disney's net income totaled $1.8 billion, or $1.01 a share, well ahead of the 93 cents per share average projected by a group of economists who took part in a recent Reuters survey. Overall revenue, meanwhile, came in at $11.1 billion, just under the $11.3 billion the economists were expecting. The media conglomerate scored big during the quarter with its motion picture “The Avengers,” which has grossed more than $600 million in the US alone since its May release. The film has taken in another $840 million internationally, making it Disney's most successful box office hit ever in terms of worldwide gross.
The Walt Disney Company issued its fiscal third-quarter results Tuesday, posting a record-high in earnings while easily beating Wall Street estimates despite a slight miss in revenue. Investors were not seemingly impressed, however, as shares rose just a fraction in Tuesday trading, but the company has been the second-best performing stock on the Dow Jones this year behind Bank of America with a year-to-date gain of over 30 percent. The stock reached an all-time high of just over $50 a share late last month.
In the three months ended June 30th, Disney's net income totaled $1.8 billion, or $1.01 a share, well ahead of the 93 cents per share average projected by a group of economists who took part in a recent Reuters survey. Overall revenue, meanwhile, came in at $11.1 billion, just under the $11.3 billion the economists were expecting. The media conglomerate scored big during the quarter with its motion picture “The Avengers,” which has grossed more than $600 million in the US alone since its May release. The film has taken in another $840 million internationally, making it Disney's most successful box office hit ever in terms of worldwide gross.
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