Categories Earnings, Leisure & Entertainment

Walt Disney (DIS) Q4 profit dips 66% but beats estimates

The Walt Disney Company (NYSE: DIS) reported a 66% dip in earnings for the fourth quarter of 2019 due to higher costs and expenses. However, the results exceeded analysts’ expectations.

Net income from continuing operations plunged by 66% to $785 million or $0.43 per share. Adjusted earnings dropped by 28% to $1.07 per share, but exceeded the analysts’ expectations of $0.95 per share.

Walt Disney (DIS) Q4 2019 Earnings Review

The business segments contributed positively to the top line, which had risen by 34% for the quarter to $19.1 billion. This came ahead of the consensus estimates of $19.04 billion.

Media Networks revenues rose 22%. Parks, Experiences & Products recorded an 8% increase, while Studio Entertainment revenues rose by 52%.

Disney has been riding on the performance of The Lion King, Toy Story 4 and Aladdin in the current quarter compared to Incredibles 2 and Ant-Man And The Wasp in the prior-year quarter.

Disney experienced a decrease at ESPN. This was due to increases in NFL, college sports and MLB programming, production and marketing costs. This was partially offset by higher affiliate revenue, which was due to an increase in contractual rates and the launch of the ACC Network.

Read: Roku Q3 earnings snapshot

Mickey and Minnie were turning to be the least favorite among children as the merchandise sales were lower than that based on Frozen and Toy Story, which has risen from the previous year. Disneyland Resort showed growth as increases in average ticket prices and higher food, beverage and merchandise spending drove guest spending higher.

The company experienced an increase in operating loss at Direct-to-Consumer & International due to the consolidation of Hulu, costs associated with the upcoming launch of Disney+ and our ongoing investment in ESPN+, which was launched in April 2018.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues

Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5

Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights

Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top