Walt Disney (DIS) Tops Q3 EPS by 2c

August 6, 2013 4:15 PM EDT
(Updated - August 6, 2013 4:21 PM EDT)

Walt Disney (NYSE: DIS) reported Q3 EPS of $1.03, $0.02 better than the analyst estimate of $1.01. Revenue for the quarter came in at $11.58 billion versus the consensus estimate of $11.64 billion.

In the same period last year, EPS was $1.01 with revenue of $11.09 billion.

Parks and Resorts revs rose 7 percent to $3.68 billion, while Studio Entertainment saw a 2 percent drop in revs to $1.59 billion. Disney said that Studio Entertainment revenues decreased 2 percent to $1.6 billion and segment operating income decreased $112 million to $201 million, primarily due to a decrease in worldwide theatrical distribution results.

Interactive revenues for the quarter decreased 7 percent to $183 million and segment operating results decreased by $16 million to a loss of $58 million.

Operating income at Cable Networks increased $229 million to $2.1 billion for the quarter due to growth at ESPN, A&E Television Networks (AETN) and the domestic Disney Channels, partially offset by a decrease at ABC Family. Higher operating income at ESPN was due to increased affiliate revenues and, to a lesser extent, higher advertising revenues, partially offset by increased programming and production costs.

We are pleased with the results we delivered in the third quarter, commented CEO Robert A. Iger. We are confident that our strategy of creating high-quality branded content positions us well for the future.

For earnings history and earnings-related data on Walt Disney (DIS) click here.

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