11/7/2019, 10:06 PM (Source: TeleTrader)
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Disney posts Q4 revenue of $19B, up 34% YoY

Walt Disney Co. announced on Thursday its revenue in the fourth quarter of fiscal 2019 amounted to $19.1 billion, up 34% on an annual basis, beating analyst predictions. Net income tumbled 66% to $785 million. Earnings per diluted share (EPS) fell 72% to $0.43 versus the last year's figure of $1.55.

For the whole year, revenue was 17% higher than in 2018 at $67.6 billion. Net income dropped 17% to $10.1 billion, while EPS stood at $6.27, down 25% versus 2018.

Media Networks made a revenue of $6.5 billion, while Parks and Resorts' revenue amounted to $6.7 billion, increasing 22% and 8% respectively. Studio entertainment marked a significant 52% increase in revenue, to reach a figure of $3.3 billion. Studio Entertainment's operating income also marked a notable 79% growth, to $1.1 billion.

"Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses. We've spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience, and we're excited for the launch of Disney+ on November 12," chief executive Robert Iger said in the press release. In addition, Iger announced Disney signed an agreement to distribute its Disney+ on Amazon Inc.'s Fire TV.

Disney shares were up 3.82% in the after-hours trading.

Breaking the News / MD