Wall Street smiles.
For the second quarter of the year, DIS (known to you and me as the Walt Disney Co.) had per-share earnings of $1.11, beating expectations by 15 cents per share.
Total revenue was$11.64 billion, up 10.3% year over year, sailing past expectation by $440 million.
Shares rise 2.1% and the beast of Wall Street is happy.
Not shabby. I'm so old I can remember when Disney was a risky play and the shares never got much above $20/share. But that was long ago, in simpler, less conglomeraty times.
Add On: CEO Robert Iger talks to analysts:
R.I.: ... We're extremely pleased with our performance in Q2, with revenues up 10%, net income up 27%, and adjusted EPS up 41% to $1.11, the highest in the history of our Company. Once again, all of our business segments achieved double-digit increases or more in operating income.
Our continued strong performance reflects the strength of our brands and the quality of our content. Our extraordinary creative success and our unique ability to leverage it across the entire Company. The unprecedented global success of Disney Animation's phenomenal Frozen continues and it's now the world's highest grossing animated film of all time. The best-selling title ever released on Blu-ray and digital. The demand for Frozen merchandise remains extremely high and the soundtrack was the number one album in the U.S. again last week. And as previously announced, Frozen is headed to Broadway.
Captain America: The Winter Soldier has far surpassed the first Captain America in total global box office, which obviously bodes well for our Avengers franchise. We’ve had enormous success releasing Marvel movies on the first weekend of May, including the two biggest domestic openings of all time. And we’ll continue this tradition with the Avengers Age of Ultron next year and Captain America 3 in 2016. Avengers Age of Ultron is currently shooting an early footage and looks great. ...