Although earnings were higher than analysts' estimate, which was $1.49 EPS, the revenue missed forecast of $15.26 billion, down by 3% year-on-year. (DIS) dipped as much as 2% Tuesday after the entertainment giant reported first-quarter mixed financial results of higher-than-expected profit, but lower revenue than expected.
He said other growth areas came from the United States entertainment giant's studio, which had three global hits, including "Rogue One: A Star Wars Story". Over the last six months and over the last three months, the shares of The Walt Disney Company (DIS), have changed 14.72% and 18.81%, respectively.
Back on 2/9/2016 the company's estimated EPS value was $1.44 and it reported $1.63 earnings per share (EPS) for the quarter ended on 12/2015. Net income declined 14% to $2.5 billion. The NFL saw consistent declines in viewership this season in the first quarter, with NFL Nielsen ratings down 8% for the 2016 season. As a result, ESPN continued to face headwinds amid lower television ratings. Disney recently signed a deal with Hulu to give the streaming platform access to exclusive titles, but considering Disney owns a 30 percent stake in the company, that's not too surprising. Operating income from Cable Networks decreased $207 million during Q4 due to decreases at ESPN and Disney Channel.
Disney led media stocks in a meltdown in 2015 after acknowledging that its flagship ESPN sports network was losing subscribers as viewers traded down to lower-priced TV options. Moreover, the growth in ESPN's programming costs was due to its new National Basketball Association agreement and contractual rate increases for NFL programming, partially offset by lower programming costs for College Football. Full-year sales forecasts are pegged at $57.42B, representing an increase of almost 3.22% over last fiscal year's revenues of $55.63B. On the Studio Entertainment front, as we get closer and closer to the Infinity War movies set to launch in 2018 and 2019, consumer excitement surrounding the Marvel Universe should build.
A year ago at this time, Disney was celebrating the 60th anniversary at Disneyland in California.
Kim Jong Un fires spy chief, instead of killing him
"If the demotion of Kim Won Hong is really true, then that's another sign of a crack in the North Korean elite group", he said. Among those killed was his uncle, Jang Song Thaek, who was once considered the second most powerful man in North Korea.
Since it opened its gates last June, Disneyland Shanghai has received more than 7 million visitors.
The "Star Wars" parks were first announced by Disney in 2015 and are now under construction.
Studio revenue fell 7% to $2.5 billion, but the company mentioned the tough comparison of Rogue One: A Star Wars Story versus "the exceptional performance" of Star Wars: The Force Awakens in the same period past year.
Net income in the quarter declined 14% to $2.5 billion or $1.55 per diluted share compared to the $2.9 million or $1.73 per share in the same quarter previous year.
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