Shares of Walt Disney Company were up after the company reported earnings beating analysts expectations for the quarter. The companies studio revenue grew an impressive 50% year over year. Disney also announced it's streaming service will launch next year and be called Disney+.Diluted earnings per share (EPS) for the fourth quarter increased 37% to $1.55 from $1.13 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter increased 38% to $1.48 from $1.07 in the prior-year quarter. EPS for the year increased to $8.36 from $5.69 in the prior year. Excluding certain items affecting comparability(1), EPS for the year increased to $7.08 from $5.70 in the prior year.
“We’re very pleased with our financial performance in fiscal 2018, delivering record revenue, net income and earnings per share,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “We remain focused on the successful completion and integration of our 21st Century Fox acquisition and the further development of our direct-to-consumer business, including the highly anticipated launch of our Disney-branded streaming service late next year.”
Revenue reported according to each business unit for the quarter:
- Media Networks revenues for the quarter increased 9% to $6.0 billion, and segment operating income increased 4% to $1.5 billion.
- Broadcasting revenues for the quarter increased 21% to $1.8 billion and operating income increased $150 million to $379 million.
- Parks and Resorts revenues for the quarter increased 9% to $5.1 billion, and segment operating income increased 11% to $829 million.
- Studio Entertainment revenues for the quarter increased 50% to $2.2 billion and segment operating income increased $378 million to $596 million.
- Consumer Products & Interactive Media revenues for the quarter decreased 8% to $1.1 billion
Read the full earnings report here: https://www.thewaltdisneycompany.com/the-walt-disney-company-reports-fourth-quarter-and-full-year-earnings-for-fiscal-2018/
Listen to the earnings call here: https://www.thewaltdisneycompany.com/disneys-fiscal-full-year-and-q4-2018-earnings-results-webcast/