Walt Disney missed fiscal second quarter earnings estimates and said parks revenue declined. Disney reported 49 cents of EPS, 7 cents worse than analysts’ expectations. Revenue came in at $9.08 billion, worse than expectations for $9.13 billion. Operating income fell 3% year over year at its parks and resorts, particularly Disney Cruise Line and Tokyo Disney Resort. Operating income at Cable Networks increased $174 million to $1.4 billion for the quarter on growth at ESPN, ABC Family and the Disney Channels. The increase at ESPN reflected higher advertising and affiliate revenue, partially offset by higher programming costs.
2 comments for “5/10 – Disney Has Down Qtr, ESPN Faring Well”