... Our Q1 performance was the greatest single quarter in the history of The Walt Disney Company and a phenomenal start to FY '16. Revenue was up 14%, net income was up 32% and adjusted earnings per share were up 28%, to $1.63 which is our highest quarterly EPS ever and is also our 10th consecutive quarter of double digit EPS growth.
We had tremendous performance across our portfolio of businesses. With the incredible success of Star Wars: The Force Awakens, our studio delivered $1 billion in quarterly operating income for the first time in history. Our parks and resorts also made history, with nearly $1 billion in operating income. And our consumer products and Interactive business set another record, with $860 million in Operating Income.
Our results clearly show that our long-term strategic focus and investments in brands and franchises are driving remarkable value in these businesses. ...
Turning to a subject that has gotten a lot of attention lately, ESPN and the status of the bundle. In the last couple of months, we have actually seen an uptick in ESPN subs which is encouraging. We're also pleased with what we're hearing from Dish about the response to Sling TV, a light package that includes ESPN. The service appears to be growing nicely and is proving very attractive to young consumers in particular, significantly over indexing among millennials and has been quite successful in bringing previous cord cutters back to pay TV. ...
Disney's broadcast and cable networks have been a drag on the Mouse's growth, expanding 8% while the rest of the company has grown at a 23% clip. Mr. Iger points out that the growth rate since '09 has been 14%, so clearly something has been going right since he took the helm.
Turning the House of Mouse into Berkshire-Hathaway has been good for Disney shareholders, even if lover of the core Disney don't like it very much.
Posts
2 comments:
But Disney stock is down 25% from its high last November.
Well, you can't have everything. Even the mighty fall.
Post a Comment