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Chief executive officer and chairman of The Walt Disney Company Bob Iger walks on the floor of the New York Stock Exchange (NYSE) before ringing the opening bell, November 27, 2017 in New York City.
The Walt Disney Company reported fourth-quarter earnings and revenue that easily topped analysts’ expectations on Thursday.
Here’s how the company did compared with what Wall Street expected:
- Earnings: $1.48 per share vs. $1.34 per share forecast by Refinitiv
Revenue: $14.31 billion vs. $13.73 billion forecast by Refinitiv
In the year-ago quarter, Disney reported adjusted earnings of $1.07 per share on revenue of $12.78 billion.
Shares of Disney rose 2 percent in after-hours trade.
For the full year, Disney reported adjusted earnings of $7.08 per share on $59.43 billion in revenue. The Street had projected earnings of $6.94 per share on $58.87 billion in revenue, according to a Refinitiv consensus estimates.
Disney’s earnings come as investors continue to seek more information on the company’s long-term vision for its various streaming investments as well as how it plans to integrate assets recently acquired from Twenty-First Century Fox.
Longtime CEO Bob Iger has said that the purpose of the Fox deal is to expand the entertainment giant’s content library as Disney prepares to launch its own streaming service in 2019. Through its acquisition of Fox assets, Disney has also doubled its stake in the streaming service Hulu.
Disney has been experimenting with over-the-top video offerings, as it works to adjust to changing consumer behavior. In April, Disney launched ESPN+ and surprised analysts by notching more than 1 million paid subscribers in just five months.
Disney shares have gained 7 percent so far this year, hitting a 52-week intraday high of $119.69 on Oct. 22.
Programming note: Disney Chairman and CEO Bob Iger is scheduled to appear on CNBC’s “Closing Bell” with Julia Boorstin on Thursday at 4 p.m., ET.
This is breaking news. Please check back for updates.
