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Disney (DIS) Earnings Review

DIS
walt-disney-earning-review

Disney reported solid earnings for the fourth quarter of fiscal 2013 (4QFY13), and beat analyst estimates for both revenues and earnings. Net income for the quarter came in at $1.39 billion, an 8% increase over 4QFY12. Total revenues were $11.6 billion, a 7% uptick from $10.8 billion in the same quarter last year, while quarterly earnings per share (EPS) were up 8% to reach $0.77. Operating margins remained flat during the quarter, but the real surprise was the flagging growth rate for the company’s cable and broadcast networks which were up only 1% and 2%, respectively. The Media Networks segment posted an 8% year-over-year (YoY) fall in net income while Parks and Resort saw net income rise 15%. The Studio Entertainment division witnessed 35% growth in net income driven by favorable box office sales during the summer. Disney’s management lowered its guidance for EPS growth by two ppts given the slowdown in revenues from Media Networks, while still remaining positive due to future prospects in emerging markets.



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