Entertainment giant Walt Disney Co. (DIS) is scheduled to report second-quarter results after the market closes Tuesday. On average, 25 analysts polled by Thomson Reuters expect earnings of $0.46 per share with estimates ranging between $0.41 and $0.49 per share. Revenue for the quarter is estimated to be $8.39 billion. Analysts' estimates typically exclude special items.
The Burbank, California-based company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive Media. Its offerings include the ABC Television Network, ESPN Radio and Radio Disney networks and Disneyland resorts. In fiscal 2009, of the total revenue of $36.149 billion, Media Networks generated $16.209 billion and Parks and Resorts brought in $10.667 billion. Studio Entertainment revenues were $6.136 billion in the year and Consumer Products revenues totaled $2.425 billion. Interactive Media reported revenues of $712 million in fiscal 2009.
In the just concluded quarter, the entertainment giant is expected to have benefited from a rebound in the advertising scenario. Also, Alice in Wonderland is turning out to be a blockbuster. The acquisition of Marvel Entertainment Inc. in late December also may have helped the top line. A dampener to earnings could be higher costs for cable programming.
In the second quarter of the previous fiscal, the company's net income totaled $613 million or $0.33 per share. Excluding restructuring and impairment charges, earnings amounted to $0.43 per share. Revenue in the quarter was $8.087 billion, down 7% from the previous year.
In the first quarter of the current fiscal, the company earned $844 million or $0.44 per share. Excluding restructuring and impairment charges and a gain on the sale of an investment in a television service in Europe, earnings were $0.47 per share. Revenue in the quarter edged up 1% to $9.739 billion.
Time Warner Inc. (TWX), which owns the CNN news channel and HBO, last week said net income attributable to the company shareholders in the first quarter improved to $725 million or $0.62 per share from $660 million or $0.55 per share recorded last year. Revenues rose 5% to $6.32 billion.
Viacom Inc. (VIA, VIAB), the owner of MTV Networks and Paramount Pictures, recently said first-quarter net earnings attributable to the company increased to $245 million or $0.40 per share from $177 million or $0.29 per share in the same quarter last year, helped by lower operating expenses. Viacom's quarterly revenues declined 4% to $2.79 billion.
Mass media company CBS Corp. (CBS, CBS-A) last Wednesday reported a narrower net loss for the first quarter, helped partly by advertising rebound. The company's first-quarter net loss was $26.2 million or $0.04 per share, compared to a net loss of $55.3 million or $0.08 per share in the prior year quarter. First-quarter revenues increased 12% to $3.53 billion.
DIS closed Monday's regular trade at $35.29, up $1.88 or 5.63%, on 18.28 million shares. For the past year, the stock traded in the range of $22.05-$37.98.
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