The Walt Disney Co.'s earnings rose 12 percent in the
company's fiscal fourth quarter, beating analysts' forecasts on the surprising
strength of its new video game "Disney Infinity" and upbeat movie
studio results.
But a worse-than-expected performance from Disney's stalwart
pay TV unit housing its ESPN network led to a stock drop in after-hours
trading. Analyst Alan Gould of Evercore Partners said the market remained
focused on the reliable profits of Disney's pay TV division, rather than the
hit-and-miss results from the studio or its games division.
Net income in the three months that ended Sept. 28 came to
$1.39 billion, or 77 cents per share. That's up from $1.24 billion, or 68 cents
per share, in the same months a year ago. Revenue grew 7 percent to $11.57
billion.
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