Disney: Strong Operational Performance And High Visibility Drive Shares Upward
By Robert Broens: Shares of The Walt Disney Company (DIS) are trading up 1.6% in after hours trading, hitting new all time highs after the company published a strong second quarter earnings report.
Second Quarter Results
Walt Disney reported a 21% increase in net income to $1.94 billion with diluted earnings per share increasing some 29% to $0.63 per share. Revenues increased 6% to $9.6 billion. The earnings were boosted by $184 million non-cash gain, or $0.05 per share, on an equity investment in UTV Software Communication Limited."We are incredibly optimistic about our future, given the strength of our core brands" says Robert Iger DisneyComplete Story »