Walt Disney fell in extended trading after posting third-quarter sales that fell short of analysts’ estimates and cutting its forecast for cable TV profit.
Advertisement
Revenue rose to $13.10 billion from $12.47 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share.
Cedar Fair owns and operates 15 amusement and water parks and five hotels, and operates a theme park in Gilroy, Calif. Advertising revenue at the sports network was down 3% in the quarter ended June 27, which Disney attributed to a hard comparison with last year, when the men’s Federation Internationale de Football Association World Cup aired. The company combines ESPN’s results with those of other, smaller networks such as Disney Channel and ABC Family. The entertainment giant reported $1.45 EPS for the quarter, topping the analysts’ consensus estimate of $1.42 by $0.03, Market Beat Ratings reports. Interactive saw the company’s only decrease in revenue, which was down 22 percent to $208 million, while operating income broke even after generating $29 million in the same time frame previous year. The animated feature Inside Out has made $600 million globally.
Income declined at the company’s global theme parks because of higher costs at Disneyland Paris and lower attendance in Hong Kong.
In particular, the December 18 premiere of Star Wars: The Force Awakens, the seventh installment in George Lucas’ saga that Disney bought for more than $4 billion in 2012, is expected to ripple into merchandising, especially with the release tied to the Christmas holiday. Lindsell Train Ltd is another notably bullish institutional investor who is possessing 1.44 million shares of The Walt Disney Company or 12.32% of their equity exposure.
In terms of share statistics, Walt Disney Co. has a total of 1.70 billion shares outstanding with 7.73% held by insiders and 64.90% held by institutions. Disney Consumer Products (DCP) delivers product encounters across thousands of categories from toys and apparel to novels and fine art. Disney Interactive is a creator of interactive entertainment across all present and emerging digital media platforms. Stockholders of record on Monday, July 6th were paid a dividend of $0.66 per-share.
Advertisement
“Tomorrowland“, a movie that performed poorly at the box office, bit into profit for the studio division.
