Disney’s earnings more than double

[crazy4wdw]

I'm a happy Walt Disney Co. shareholder today. The stock is up .29 per share today!

Disney’s earnings more than double
Media giant cites a one-time sale of assets for the gains

LOS ANGELES - The Walt Disney Co. said on Wednesday that first quarter net earnings more than doubled from a year ago, helped by the one-time sales of assets.

Disney, maker of the animated films “Pirates of the Caribbean: Dead Man’s Chest” and “Cars”, said net income rose to $1.7 billion, or 79 cents per share, from $734 million, or 37 cents per share in last year’s first quarter.

Analysts on average expected net earnings of 75 cents per share and revenue of $9.5 billion, according to Reuters Estimates.

Wall Street forecast earnings of 39 cents per share, excluding Disney’s $1.23 billion sale of its stake in E! Networks and stock based compensation, according to Reuters Estimates.

Disney has enjoyed robust earnings growth and a return to favor with investors since Robert Iger took over as chief executive in late 2005 and began an aggressive program to expand the company’s global reach, revitalize its animation division and push the boundaries of digital distribution.

 

[DukeStreetKing]

 

[DVCconvert]

Don't be Too happy -- there are plenty here that will find fault with this!!!....'Walt didn't do it" ...."Not creative enough"...."Where's the innovention?!"....blah, blah, blah...

Of course, those folks are all...egocentric and....
But they won't let us believe it!

 

[YoHo]

If they hadn't sold their stake in E!, earnings would have been up a paltry $0.02. Of course, I think getting out of E! was a good thing, so I'm neither here nor there.

 

[raidermatt]

Don't be Too happy -- there are plenty here that will find fault with this!!!....'Walt didn't do it" ...."Not creative enough"...."Where's the innovention?!"....blah, blah, blah...

Of course, those folks are all...egocentric and....
But they won't let us believe it!

Thank you for your constructive, and humble, comments.

I'm a stockholder, the numbers are good, so I'm happy about that.

If you want to read what the concerns are along those lines, there are analysts out there who have stated them (not that I put a lot of stock in analysts...). Of course linking or posting any would would be egocentric and crazy of me, so we can just have a great big stroke party and avoid any real discussion on the topic.

 

[crazy4wdw]

Strong DVD sales boost Disney first quarter earnings

Christopher Boyd | Sentinel Staff Writer
Posted February 7, 2007, 4:36 PM

LOS ANGELES -- Soaring home-video sales and strong performance from its television networks ignited Walt Disney Co.'s first-quarter earnings, which more than doubled from the same period a year earlier.

The parent of Walt Disney World on Wednesday reported that it earned $1.7 billion, or 79 cents a share, during the quarter ended Dec. 31. During the same quarter in 2005, the company earned $734 million, or 37 cents a share.

Excluding gains from the sale of its interest in E! Entertainment and Us Weekly, it earned 50 cents a share, which blew past the 39 cents a share that stock analysts had expected. The results were announced after the stock market closed.

Theme parks and resorts operations posted modest returns during the quarter, with year-over-year revenue rising 4 percent. The growth was centered on Disney World, where increased ticket prices and attendance outpaced rising operating costs.

Disney Chief Financial Officer Tom Staggs said attendance at Disney World increased 3 percent during the quarter, and the bookings through March are also up. He said attendance at Disneyland in Southern California was flat.

The company's studio operations posted the biggest gains, largely the result of the home video release of Pirates of the Caribbean: Dead Man's Chest, Cars and the platinum release of Little Mermaid. Studio entertainment reveneu rose 29 percent to $2.6 million during the quarter.

 

[raidermatt]

According to Disney's own release, Disneyland was actually down.

Parks and Resorts
Parks and Resorts revenues for the quarter increased 4% to $2.5 billion and segment operating income increased 8% to $405 million. Segment operating income growth reflected an increase at Walt Disney World, partially offset by declines at Hong Kong Disneyland and the Disneyland Resort.
Operating income growth at Walt Disney World was due to increased guest spending driven by higher average ticket prices and increased attendance, partially offset by higher operating costs. Costs benefited from lower pension and post-retirement medical costs.
The decreases at Hong Kong Disneyland and the Disneyland Resort were primarily due to lower attendance and guest spending. Lower results at the Disneyland Resort reflected the success of the 50th Anniversary Celebration in the prior-year quarter.

 

[exDS vet]

Don't Let A Suitcase Full Of Cheese Be Your Big Fork And Spoon. - Marie Barone

Hey Moderator!
You can close this thread now. DukeStreetKing is a genius! THANK YOU!!

 

[exDS vet]

Don't be Too happy -- there are plenty here that will find fault with this!!!....'Walt didn't do it" ...."Not creative enough"...."Where's the innovention?!"....

Nobody else needs to comment. You pointed everything out perfectly.