Walt Disney To Report Q4 Results: Earnings Preview
Symbols:
DIS
(RTTNews) - Diversified media and entertainment company Walt Disney Co. (DIS | Quote | Chart | News | PowerRating), which recently received approval from China to set up its theme park in Shanghai, is scheduled to report fourth-quarter results after the market closes on Thursday. On average, 26 analysts polled by Thomson Reuters expect the company to earn $0.41 per share for the quarter, with estimates in the range of $0.35-$0.53 per share. Revenue for the quarter is estimated to be $9.26 billion. Analysts' estimates typically exclude special items.
For the year-ago period, the company reported net income of $760 million or $0.40 per share. Revenues for the fourth quarter of 2008 were $9.445 billion.
For the fiscal year, analysts expect Disney to report earnings of $1.76 per share on revenues of $35.54 billion. In fiscal 2008, the company reported earnings of $4.427 billion, or $2.28 per share, and revenues of $37.843 billion.
The Burbank, California-based company operates through four business segments - Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products. For the fiscal year 2008, Media Networks generated about 43% of total revenues, while nearly 31% of revenues came from Parks and Resorts. Studio Entertainment and Consumer Products generated 19% and 8% of total revenues.
Disney said in late July that its third quarter profit dropped 26% from last year, as the challenging global economy impacted all its businesses. The company reported third-quarter net income of $954 million or $0.51 per share, down from $1.3 billion or $0.66 per share for the year-ago quarter. Revenue declined 7% to $8.60 billion from $9.24 billion in the same quarter last year.
Disney, which runs the ESPN and ABC networks, has been having a bad time due to the recession, which reduced attendance at Disney theme parks and led to the company's entertainment operations suffer from declining advertising, viewership and DVD sales.
On November 5, Disney appointed Rich Ross, President of Disney Channels Worldwide, as Chairman of Walt Disney Studios, effective immediately. Ross replaces Richard Cook, who resigned from the company last month. Reports had appeared saying that Disney president and chief executive Boss Robert Iger was unhappy with the studio's recent lackluster performance.
Media reports also said that Disney's Miramax Films division would eliminate 50 jobs and also reduce the number of movies it produces each year by half. Miramax plans to produce about three movies annually, down from current production of six to eight movies. Disney's plan to eliminate jobs will leave only about 20 people in the division, reports added.
Among events during the fourth quarter, in late August, Disney agreed to acquire Marvel Entertainment, Inc. (MVL | Quote | Chart | News | PowerRating) in a cash and stock transaction valued at about $4 billion. Under the deal, Disney will acquire ownership of more than 5,000 Marvel comic-book characters, including Iron Man, Spider-Man, X-Men and Captain America.
The company achieved a significant milestone early this month, when it received approval from the Chinese government for its theme park in Shanghai. The company had been pursuing the proposal for about 20 years. China is often tough when it comes to approvals for operations of foreign companies in its soil. Time Warner (TWX | Quote | Chart | News | PowerRating) and News Corp. (NWS, NWSA) also have been trying hard to make their presence felt in the world's biggest emerging economy, but with little success.
Among others in the industry, News Corp. last week reported net income attributable to News Corp. of $571 million for the first quarter, up 11% from $515 million in the prior year quarter. Earnings per share rose to $0.22 from $0.20 in the previous year quarter. First quarter revenues declined 4% to $7.20 billion from $7.51 billion in the same quarter last year.
Media and entertainment giant Time Warner Inc. reported third-quarter results last week, posting net income attributable to Time Warner Inc. shareholders of $661 million or $0.55 per share, down from $1.07 billion or $0.89 per share reported in the year-ago quarter. Total revenues for the latest quarter dropped 6% to $7.14 billion from the previous year's revenue of $7.58 billion.
DIS closed Wednesday's regular trade at $29.29, up $0.17 or 0.58%, on 11.55 million shares. For the past year, the stock trended in the range of $15.14-$29.98.
For comments and feedback: contact editorial@rttnews.com
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
For the year-ago period, the company reported net income of $760 million or $0.40 per share. Revenues for the fourth quarter of 2008 were $9.445 billion.
For the fiscal year, analysts expect Disney to report earnings of $1.76 per share on revenues of $35.54 billion. In fiscal 2008, the company reported earnings of $4.427 billion, or $2.28 per share, and revenues of $37.843 billion.
The Burbank, California-based company operates through four business segments - Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products. For the fiscal year 2008, Media Networks generated about 43% of total revenues, while nearly 31% of revenues came from Parks and Resorts. Studio Entertainment and Consumer Products generated 19% and 8% of total revenues.
Disney said in late July that its third quarter profit dropped 26% from last year, as the challenging global economy impacted all its businesses. The company reported third-quarter net income of $954 million or $0.51 per share, down from $1.3 billion or $0.66 per share for the year-ago quarter. Revenue declined 7% to $8.60 billion from $9.24 billion in the same quarter last year.
Disney, which runs the ESPN and ABC networks, has been having a bad time due to the recession, which reduced attendance at Disney theme parks and led to the company's entertainment operations suffer from declining advertising, viewership and DVD sales.
On November 5, Disney appointed Rich Ross, President of Disney Channels Worldwide, as Chairman of Walt Disney Studios, effective immediately. Ross replaces Richard Cook, who resigned from the company last month. Reports had appeared saying that Disney president and chief executive Boss Robert Iger was unhappy with the studio's recent lackluster performance.
Media reports also said that Disney's Miramax Films division would eliminate 50 jobs and also reduce the number of movies it produces each year by half. Miramax plans to produce about three movies annually, down from current production of six to eight movies. Disney's plan to eliminate jobs will leave only about 20 people in the division, reports added.
Among events during the fourth quarter, in late August, Disney agreed to acquire Marvel Entertainment, Inc. (MVL | Quote | Chart | News | PowerRating) in a cash and stock transaction valued at about $4 billion. Under the deal, Disney will acquire ownership of more than 5,000 Marvel comic-book characters, including Iron Man, Spider-Man, X-Men and Captain America.
The company achieved a significant milestone early this month, when it received approval from the Chinese government for its theme park in Shanghai. The company had been pursuing the proposal for about 20 years. China is often tough when it comes to approvals for operations of foreign companies in its soil. Time Warner (TWX | Quote | Chart | News | PowerRating) and News Corp. (NWS, NWSA) also have been trying hard to make their presence felt in the world's biggest emerging economy, but with little success.
Among others in the industry, News Corp. last week reported net income attributable to News Corp. of $571 million for the first quarter, up 11% from $515 million in the prior year quarter. Earnings per share rose to $0.22 from $0.20 in the previous year quarter. First quarter revenues declined 4% to $7.20 billion from $7.51 billion in the same quarter last year.
Media and entertainment giant Time Warner Inc. reported third-quarter results last week, posting net income attributable to Time Warner Inc. shareholders of $661 million or $0.55 per share, down from $1.07 billion or $0.89 per share reported in the year-ago quarter. Total revenues for the latest quarter dropped 6% to $7.14 billion from the previous year's revenue of $7.58 billion.
DIS closed Wednesday's regular trade at $29.29, up $0.17 or 0.58%, on 11.55 million shares. For the past year, the stock trended in the range of $15.14-$29.98.
For comments and feedback: contact editorial@rttnews.com
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
For full details on Walt Disney Co The (DIS) DIS. Walt Disney Co The (DIS) has Short Term PowerRatings at TradingMarkets. Details on Walt Disney Co The (DIS) Short Term PowerRatings is available at This Link.
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