Earnings: DIS: Profit More Than Doubles; On Track For $700 Million Digital Revenue This Year

Another good quarter for The Walt Disney Company, which saw profit more than double to $1.7 billion, or $0.79 per share, from $734 million, or $0.37 per share, the previous year. Results include $1.1 billion from sales of interests in E Entertainment and Us Weekly. Excluding special events, earnings per share were still respectable: up 43 percent to $0.50 from $0.35. Revenues rose 10 percent to $9.7 billion, up from $8.85 billion the previous year. The results exceeded analyst expectations of $0.39 cents per share on sales of $9.5 billion. (One measure of how well Disney did: MarketWatch is running a bulletin at the top.)
Earnings call not underway … Disney, which is doing the call from its investors conference in Orlando with questions from the audience, (we were told no press) appears to be having some technical glitches; a voice pops on every so often and asks us to please stand by. The feed just came up but it turns out the speaking is well underway.
Earnings release | Webcast (4:30 est)
Disney Mobile: Sales are on plan. More details promised tomorrow when WDIG’s Steve Wadsworth speaks to investors. Later, Staggs said the company expects to get its legs in MVNO the middle of this fiscal year.
ESPN: The multimedia effort is credited for raising viewership of Monday Night Football; page views averaging 24 million were up more than 50 percent and viewership was up more than 40 percent.
Digital download sales: CFO Tom Staggs: “We don’t want to make any projections about how fast it will grow.” He said the company will make a little more than $25 million in FY07 from iTunes and that it looks incremental. He expects download revenues to increase and to become an important part of studio revenue. Asked when the contract with iTunes expires, Staggs skipped past that answer but said, “We’ve been very satisfied, as you can imagine

Comments have been disabled for this post