Sunday, May 04, 2014

Forecasts For the Berkshire-Hathaway of Entertainment Congloms

Diz Co. will be reporting first quarter earnings day after tomorrow, and ...

Analysts predict that Disney will report that its revenue for the quarter increased more than six percent year-over-year to $11.23 billion. Earnings of $0.95 per share are also in the consensus forecast. That would be a jump from a reported profit of $0.79 per share in the comparable period of last year.

Note that the consensus earnings per share (EPS) estimate has remained steady over the past 60 days. But the company beat analysts' EPS expectations in the previous quarter by 13 percent. Analysts have underestimated EPS in the past four quarters.

Disney attributed record first-quarter EPS results to double-digit increases in operating income in all business segments. "These results reflect the strength of our unprecedented portfolio of brands, a constant focus on creativity and innovation, and the continued success of our long-term strategy," said the CEO. The share price rose more than eight percent in the week following the first-quarter report. ...

As the Wise Old Cartoon Producer (retired) said to me a little while ago:

"Disney isn't a movie studio anymore, it's a buyer and manager of brands. Lucas, Marvel, Pixar, ESPN. It's like every other big, entertainment conglomerate. Except more so."

Wise Old Producer and I both worked at Disney back when it was a sleepy backwater, a maker of lame live-action comedies and the occasional animated feature. There was also the amusement parks and monster real estate holdings at that time, but those things seemed as if they belonged to a different company.


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