Earnings: DIS: Strong Quarter Across The Board (Ditching ESPN MVNO Helps)
The Walt Disney (NYSE: DIS) Company brought in another strong quarter, increasing net income to $877 million from $782 million in the same quarter last year. (The quarter ending Sept. 30 marked the end of Disney’s fiscal year.) Revenues rose 3 percent to $8.93 billion from $8.65 billion. Segment operating income was up 14 percent, to $1.81 billion from $1.59 billion.
—Among the segments, Media Networks revenues rose 14 percent while operating income increased by 25 percent. Within Media Networks, ESPN’s decision to ditch its MVNO helped raise its contribution ... this is described as “lower costs associated with mobile phone operations, which have transitioned to a licensing model.” Of course, other factors at ESPN matter more—higher advertising and affiliate revenues.
—The Disney Mobile MVNO shutdown added to higher costs at the Walt Disney Internet Group.
Earnings release | Webcast (4:30 p.m. est)
More to come.
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