Disney’s Q1 earnings flat against last year
The Walt Disney Company has seen its first quarter earnings equal those for the same period last year.
The company earned US$844m profit - equating to 44 cents per share - compared to US$845m (45 cents per share) last year. Revenue was US$9.73bn compared to US$9.59m.
Disney’s Parks & Resorts division saw its operating income decrease 2 per cent to US$375m, while revenue remained flat at US$2.7bn.
The quarter included restructuring and impairment charges and a gain on the sale of an investment in a European television service, which had a net adverse impact of 3 cents per share, whereas the previous year included a 4 cent gain due to the sale of two Latin American pay television services.
Robert Iger, president and CEO, said: “We are pleased with our first quarter results and are excited about our creative pipeline, from upcoming movies like Alice in Wonderland and Toy Story 3 to new attractions at our parks and resorts.”
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