Dow 30 Component Disney Surpasses Estimates With Q2 Earnings Report
Dow 30 Component, The Walt Disney Company (DIS), and its subsidiaries is a diverse worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media.
Disney reported its Q2 financial earnings of $1.84/share on May 8, 2017, easily beatings estimates of $1.73 per share. The earnings per share were up 23% from Q2 the prior year.
The company reported revenues of $14.5B, an increase of 6% from $13.3B from Q2 2017. Operating income was also up 3% at $4.2B compared to this time last year at $3.9B.
Disney’s corporate and unallocated shared expenses were reported at $194M this quarter, a $33 million increase. The costs were a results of the agreement to acquire Twenty-First Century Fox, Inc.
Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company stated, “Driven by strong results in our parks and resorts and studio businesses, our Q2 performance reflects our continued ability to drive significant shareholder value. Our ability to create extraordinary content like Black Panther and Avengers: Infinity War and leverage it across all business units, the unique value proposition we’re creating for consumers with our DTC platforms, and our recent reorganization strengthen our confidence that we are very well positioned for future growth.”
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