- Texas man arrested for powder-letter hoax
- Islamic State opens ‘marriage bureau’ for single jihadists
- Drone almost blocks California firefighting planes
- Tornado rips off roofs, downs trees near Boston
- GOP: Environmental rules keeping agents from accessing border
- John Kerry: Millions displaced by religious fighting in 2013
- Federal appeals court rules against Virginia’s gay marriage ban
- White House says Russia ‘losing’ war in Ukraine
- Hamas turns to North Korea for weapons deal, Iran for money
- Syrian casualties surge as jihadis consolidate
Disney’s earnings dip, still top analyst forecasts
Question of the Day
BURBANK, CALIF. (AP) - Disney won over more fans on Wall Street with its latest quarterly performance, despite a slight drop in its earnings.
The downturn announced Tuesday was less pronounced than the modest dip analysts anticipated as Walt Disney Co. digested higher programming costs at its ESPN television network and dealt with a less appealing line-up of theatrical and home video releases in its movie studio. The company offset some of those problems with an advertising upturn at its ABC network and higher spending at its theme parks.
It was good enough to set the stage for Disney’s stock to hit a new high in Wednesday’s trading. The shares gained 96 cents, or nearly 2 percent, cents to $55.25 in Tuesday’s extended trading after the release of the financial results. If the stock reaches that level Wednesday, it would top its previous peak of $54.87, which the shares touched just last week.
Disney earned $1.38 billion, or 77 cents per share, during its fiscal first quarter, a three-month stretch that ended Dec. 29. That compared with net income of $1.46 billion, or 80 cents per share, in the same period in 2011.
Excluding certain charges and one-time gains, Disney said it would have earned 79 cents per share. On that basis, the results exceeded the average estimate of 76 cents per share among analysts surveyed by FactSet.
Revenue climbed 5 percent from the previous year to $11.3 billion _ about $130 million above analyst predictions.
TWT Video Picks
By David Keene
Allowing states to innovate could reduce dependency on bureaucracy
- D.C. seeks to stay judge's order allowing gun owners to carry in public
- Hillary Clinton: Forget Obama, George W. Bush made her 'proud to be an American'
- Illegal immigrants demand representation in White House meetings
- Iraqi Christians rally at White House: 'Obama, Obama, where are you?'
- Tennessee Gov. Haslam slams White House for secret dump of illegals in his state
- White House defends Kerry failure to broker Middle East cease-fire
- Border surge puts Obama legacy on immigration at stake
- Report: 40% of weapons sent to Afghanistan are unaccounted for
- Babson College, BYU win top spots in Money magazine's college rankings
- White House says Russia 'losing' war in Ukraine
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq