It looked great, the numbers that is.
Check it out:
via Briefing.com
- Reports Q1 (Dec) earnings of $1.63 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus of $1.46; revenues rose 13.8% year/year to $15.24 bln vs the $14.8 bln Capital IQ Consensus. Global success of Star Wars: The Force Awakens drove record quarterly operating income at both Studio Entertainment and Consumer Products & Interactive Media
- Media Networks revenues for the quarter increased 8% to $6.3 billion, reflecting higher advertising and affiliate revenues, and segment operating income decreased 6% to $1.4 billion. Advertising revenue growth was due to an increase in units sold and higher rates, partially offset by lower ratings. Affiliate revenue growth was due to contractual rate increases, partially offset by a decline in subscribers and unfavorable foreign currency translation impacts.
Initially, the stock took off and all of the bull slapped on their Mickey ears, while shoving Twizzlers into each others mouths, until this one sentence was release from the bowels of the dungeons of Bob Iger’s catacomb.
Cable Networks revenues for the quarter increased 9% to $4.5 billion and operating income decreased 5% to $1.2 billion due to a decrease at ESPN
ESPN is the main source of worry for the company. Since it sucked, so will the stock, henceforth, for as long as the earth remains in rotaion.
DIS is down 3.5% in after hours sadness.
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If the company crushed earnings and revenue even with ESPN income down, who cares? I don’t understand it…seems like they are totally fine even with ESPN declining…
Tell that to DIS shareholders.
Earnings seem demented this year in this crazy market. It seems like you could just buy puts before every earnings report and come out rich. Estimates missed? Boom, slaughtered. Estimates beaten? No worries, give things a day or two and that pop will have been walked down.