Disney Outshines Amid Turmoil
Strong performance of the Media Networks and Parks and Resorts divisions facilitated The Walt Disney Company (DIS) to deliver better-than-expected third-quarter 2011 results that outshined the Zacks expectations. The quarterly earnings of 78 cents a share came ahead of the Zacks Consensus Estimate of 73 cents and jumped 16% from 67 cents earned in the prior-year quarter. However, on a reported basis, including one-time items, quarterly earnings came in at 77 cents per share. Total revenue in the quarter increased 7% to $10,675 million from the year-ago quarter and came ahead of the Zacks Consensus Revenue Estimate of $10,451 million. Total segment operating income increased 8% to $2,731 million.
Sequentially, Disney has made a positive comeback in the reported quarter, beating performance in the previous quarter. The company remains well positioned to drive revenue growth in the coming quarters through its strategic initiatives. In a move to boostComplete Story »