The Walt Disney Company (DIS) reported fourth quarter earnings after the closing bell today, posting an EPS of $0.77, beating the Zacks Consensus Estimate of $0.76. On the revenue front, Disney beat the Zacks Consensus Estimate of $11.4 billion, by posting revenues of $11.57 billion.
According to Walt Disney CEO Bob Iger, “We had a good solid quarter across the board.” Moreover, he stated that Park Resorts, Consumer Products, Interactive Infinity, and the Media divisions were all doing well. Corporate advertising (which only accounts for 20% of total revenue), was “decent”, and that ESPN showed some strength in advertising revenue despite a “not fantastic market place.” Most importantly 2013 ended with “record profits, and record revenues.”
One of the highlights of Mr. Iger’s interview was his discussion regarding the recent agreement with Netflix (NFLX). The deal will allow multiple original live action series, based on Marvel’s characters, to be viewed exclusively on Netflix streaming video service. Mr. Iger stated that, “Netflix is a viable distribution platform, [that is] great for our products.” “It is a win win deal for both of us.” He went further to state that this deal, “is a great opportunity to monetize some great characters.”
Mr. Iger briefly touched upon the Parks and Recreation division, by stating that it was profitable in the fourth quarter, and that Disney was building an Iron Man ride in Hong Kong.
But the most important news to come out of the interview, was that the new STAR WARS movie would be debuting December 18, 2015. So now all the world’s Star Wars fans can mark on their calendars the next must see episode of the iconic series.
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