- Disney reported first quarter 2018 earnings that beat Wall Street estimates.
- The company reported an adjusted $US1.89 earnings per share on $US15.35 billion in revenue.
- Watch Disney’s stock price move in real time here.
Shares of Disney rose 2.32% after the company reported earnings that beat Wall Street expectations.
The company reported an adjusted earnings of $US1.89 per share, beating expectations of $US1.61, and revenue of $US15.35 billion, falling short of an expected $US15.44 billion.
Out of 27 analysts polled by Bloomberg, 15 analysts rated Disney a “Buy,” 10 analysts said it was a “Hold,” and only two analysts rated the company a “Sell.”
Wall Street has been optimistic about Disney’s move to compete with Netflix by offering a video streaming service at a lower cost. Disney said in December that it plans to buy 21st Century Fox‘s film and TV assets for $US52.4 billion, which is subject to regulatory approval. A few months earlier, Disney bought the video-streaming company, BAMTech for $US1.58 billion.
Disney’s stock was trading at $US107.13 per share, and it was down 6.66% for the year.
Here are the important figures from the earnings report:
Earnings Per Share: $US1.89 vs. an expected $US1.61
Revenue: $US15.35 billion vs. an expected $US15.44 billion
Operating Profit: $US900 million, vs. an expected $US699 million