Walt Disney posts total revenue of $20.2 billion
While Cable Networks revenues for the quarter have jumped 24% to $4.5 billion, the operating income has increased 15% to $1.6 billion
Walt Disney Company has posted weaker than expected earnings per share and revenue for the third quarter, as per media reports.
Star India’s merger with Disney is said to have affected the company’s revenue. The quarter’s earnings per share have fallen 28 per cent to $1.35 from $1.87 in the same period previous year.
Analysts had expected the earnings per share to be $1.74.
Walt Disney’s total revenue stood at $20.2 billion, while the estimate was for $21.4 billion.
Disney Chairman Bob Iger was reported as saying: "Our third-quarter results reflect our efforts to effectively integrate the 21st Century Fox assets to enhance and advance our strategic transformation. We remain confident in our ability to successful execute our strategy.”
While the Cable Networks revenues for the quarter have jumped 24 per cent to $4.5 billion, the operating income has increased 15 per cent to $1.6 billion. The higher operating income, as per the company, was because of all the consolidation of 21CF businesses and an increase at ESPN.
A release by the company said: "Results for the quarter also reflected a benefit from the inclusion of the 21CF businesses due to income at the Fox and National Geographic international channels, partially offset by a loss at Star India.”
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