The Walt Disney Company Announces First Quarter Earnings | Financial Buzz

The Walt Disney Company Announces First Quarter Earnings

The mission of The Walt Disney Company is to entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company.

The Walt Disney Company (NYSE: DIS) announced earnings for the first quarter.  Earnings per share fell 37% to USD 1.17, down from USD 1.86 a year ago.   

Cable Networks revenues increased 20% to USD 4.8 Billion as operating income increased 16% to USD 862 Million.  The increase in operating income was due to the consolidation of businesses such as FX and National Geographic networks.  Broadcasting revenues increased 34% to USD 2.6 Billion as operating income increased 41% to USD 575 Million.  

“We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “Thanks to our incredible collection of brands, outstanding content from our creative engines and state-of-the-art technology, we believe our direct-to-consumer services, including Disney+, ESPN+ and Hulu, position us well for continued growth in today’s dynamic media environment.”

Equity in the income of investees rose USD 179 Million  compared to a year ago of USD 193 Million. Studio Entertainment revenues rose from USD 1.8 Billion to USd 3.8 Billion.