Disney (NYSE:DIS) earnings jump 11%, setting a new record

Disney reported their quarterly earnings today, which have risen 11 percent despite ongoing concerns about the future of the TV industry
By James Carlin | Nov 05, 2015
The world's largest entertainment firm, Walt Disney Co., (NYSE:DIS), has reported another strong fiscal quarter, smashing its record for quarterly profits in the process. According to an LA Times report, the Burbank company reported a net income of $2.483 billion in its third quarter, an 11 percent increase over last year's level.

In addition, revenue rose 5 percent to $13.1 billion in the fiscal third quarter. Disney has consistently outperformed analysts' expectations, delivering per-share earnings of $1.45, well above the estimate of $1.42. Earnings per share are 13 percent higher than last year's levels.
According to Disney Chairman and Chief Executive Robert Iger, the strong earnings demonstrate the power of Dinsney's brands, franchises and creative content.

Disney may have had a flop with George Clooney's "Tomotrrowland," but the studio division had a most profitable quarter. It reported an operating income of $472 million, 15 percent higher than last year's level. The division's performance was bolstered by "Avengers: Age of Ultron," the Marvel picture that has grossed $1.4 billion since its release on May 1st.

Disney has not disclosed how much money it lost on "Tomorrowland," but it clearly hasn't put a dent in the company's overall earnings. The film only took in $208 million at the box office, despite its $190 million budget and multimillion-dollar marketing budget.

Shares of Disney rose 62 cents to close at $121.74 yesterday, approaching the company's all-time high of $122.08. The stock is up 29 percent this year.

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