Today, the Walt Disney Company released their earnings report for their most recent fiscal quarter, showing a decline over last year.
Earnings were $1.55 per share with $14.78 billion in revenue. That is a drop of 3% in revenue over last year and 10% off the per share profit. Analysts expected profits to be even lower, but Wall Street was hoping for better.
Sales of consumer products and interactive media resulted in $1.48 billion in revenue, media networks brought in $6.23 billion, the studios segment revenue was $2.52 billion and parks and resorts reported $4.56 in revenue. Revenue for the studios was in line with expectations, but all other segments were below Wall Street’s expectations for the quarter.
Despite the numbers, Disney CEO and Chairman Bob Iger said in his quarterly conference call that Disney is “extremely well-positioned to strategically and successfully navigate the dynamic marketplace and generate value [over the long term].”
Iger briefly discussed his 2018 retirement date, saying that he has faith that the proper successor will be chosen in time, but left the door open to delaying his retirement.
During the conference call, Iger also announced the opening dates for the Avatar and Star Wars themed lands coming to Disney Parks.
Source: CNBC
