Disney Quarter 1 Earnings Report

[rteetz]

I completely forgot that Disney's first quarter report was today!

Disney closed the stock market at $109 today down $0.57 for the day.

Revenues miss 14.78 billion compared to 15.26 billion expectation.

Earnings per share beat expectations with $1.55 with $1.49 being the expectation.

Consumer products and interactive media hit hard.

Media networks down 2%

Revenue is down 3% compared to last year. Income is down 7%.

Media networks income down 11% largely attributed to ESPN.

Income at Disney's other cable networks were flat.

ABC revenue was flat but operating income increased 28% due to affiliate fee growth and decreased programming costs.

Growth at Parks was impacted by hurricane Matthew.

Attendance is down at the parks. Guest spending is up due to higher costs.

Cruise line growth came from higher prices and lower dry dock expenses.

Paris and Hong Kong have seen improved results.

 

[TwoMisfits]

Ouch...yeah, I stand by by Starring Rolls closing reason - 1st Qtr 2017 might be even worse...

 

[rteetz]

Studios was down due to unfair comparison of having released TFA last year. Part of the difference was made up by Dr. Strange and Moana.

Consumer products and interactive media income down 25%. This was due to not having a major star wars game this year, unfavorable impact of foreign currency transactions and strength of Star Wars and frozen last year.

Capital expenditures at domestic parks was down from $627 million last year at this time to $609 million this quarter.

 

[rteetz]

Disney shares are getting slammed in after hours trading down 2.30.

 

[lugnut33]

Isn't it about time for a ticket price increase?

 

[lugnut33]

The parks need more tents to make up for the lost revenue!!

 

[rteetz]

Iger is thrilled with performance at the studios.

He saw a cut of the last Jedi last week.

 

[rteetz]

Pre-sales for beauty and the Beast are comparable to their biggest marvel films.

Cars 3 will bring a new twist to the franchise.

Coco is an original story.

Thor: Ragnarok will be best Thor yet with hulk appearance.

 

[rteetz]

Shanghai welcomed 7 million guests and expects to see 10 million by its first anniversary. They expect the park to break even this year.

Pandora will open May 27th.

Star Wars lands to open in 2019.

Disney continues to work with BAM Tech.

 

[rteetz]

Disney theme park attendance down 5%.

Hotel occupancy 91% up two percent so far this year.

 

[TwoMisfits]

Disney theme park attendance down 5%.

Hotel occupancy 91% up two percent so far this year.

Is that just domestic theme parks? Or does that include the plus they got from adding Shanghai (making Domestic worse?)

 

[rteetz]

Is that just domestic theme parks? Or does that include the plus they got from adding Shanghai (making Domestic worse?)

Just domestic.

 

[TwoMisfits]

Still down 5% - compared to what Universal 4th quarter theme park results were, this should be considered a disaster for Disney...http://www.mynews13.com/content/new...icles/cfn/2017/1/26/universal_theme_park.html

 

[rteetz]

Disney repurchased $1.5 Billion in stock last quarter.

 

[rteetz]

Disney expects programming costs to be up 16% at cable next quarter due to the NBA deal and college football playoff.

 

[rteetz]

Disney expects growth in consumer products with cars and spider-man playing a role.

 

[lockedoutlogic]

Disney shares are getting slammed in after hours trading down 2.30.

All the usual financial suspects were writing articles this afternoon that it's time to dump disney...

So the numbers where already on the street before the annoucement

 

[lockedoutlogic]

Disney expects programming costs to be up 16% at cable next quarter due to the NBA deal and college football playoff.

Waste of money

 

[rteetz]

Bob Iger discusses rumors of him extending his contract. He says that he will do what is in the best interest of the company. If the board decides that is by extending his contract he will do so. They have a succession plan underway though.

 

[rteetz]

Hulu over the top service is in beta right now and will go to a public beta soon.