Disney: Fiscal 1Q Earnings Snapshot
BURBANK, Calif. (AP) _ The Walt Disney Co. (DIS) on Thursday reported fiscal first-quarter profit of $17 million.
On a per-share basis, the Burbank, California-based company said it had profit of 1 cent. Earnings, adjusted for amortization costs and restructuring costs, were 32 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The entertainment company posted revenue of $16.25 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $15.84 billion.
Disney shares have increased slightly more than 5% since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 4%. In the final minutes of trading on Thursday, shares hit $191.05, an increase of 35% in the last 12 months.