Top Nav

Earnings Roundup: Disney Back with a Vengeance

Ian Wyatt

The top-grossing movie in Disney (NYSE: DIS) history propelled the company to its strongest quarterly earnings ever.

The Avengers” – based on the popular Marvel comic book series and produced by Disney’s film studio – has grossed the third-most box office sales in U.S. history since its May release. The movie’s $1.5 billion global box office take helped increase the studio’s operating income six fold, to $313 million from $49 million a year ago.

“The Avengers” wasn’t alone in pumping up Disney’s film sales. “Brave”, an animated feature produced by Disney’s Pixar studio, has brought in another $342 million in worldwide sales since its late-June release.

The huge quarter for Disney’s film studio was the catalyst behind the company’s 31% earnings growth from a year earlier. For the quarter ended June 30 – Disney’s fiscal third quarter – the company’s earnings rose to $1.01 per share from 77 cents a share during the same three-month period a year ago.

Disney’s media networks – which include ABC, ESPN and ABC Family – also played a major role in the company’s monster quarter. The networks churned out $5.1 billion in revenue, nearly half Disney’s $11.1 billion in total revenue for the quarter.

The record earnings pushed DIS shares to a new 52-week high of $50.65 earlier today.

Here are a few other noteworthy earnings results driving stocks today:

  • Macy’s (NYSE: M): The first major department store to report earnings this season posted 67 cents of earnings per share, 3 cents better than consensus expectations. The company also increased its 2012 earnings per share guidance to $3.35 from $3.30. The stronger-than-anticipated quarter has pushed Macy’s shares up 2.8% in mid-day trading.
  • Priceline.com (NASDAQ: PCLN): Shares of the discount travel website are now trading at a discount. Priceline stock has fallen a whopping 108 points – 16% – since yesterday evening’s disappointing earnings outlook. The company expects earnings of between $11.10 and $12.10 per share next quarter – well shy of the $12.82 per share analysts were expecting.
  • Dish Network (NASDAQ: DISH): The second-largest satellite TV provider in America came up small in the second quarter. The company’s net income of 50 cents a share was just two-thirds of the 75 cents a share it earned in the same quarter a year ago. An even worst quarter could be coming – as of July 1, Dish elected to drop AMC Network (NASDAQ: AMCX), which airs some of the most critically acclaimed shows on cable including “Mad Men” and “Breaking Bad”. Dish shares tumbled 1.2% after the disappointing earnings.

This is the T-Rex of Dividend Stocks 

After years of digging – we’ve finally did it. We’ve uncovered a single stock so fierce – and pays out dividends so IMMENSE – you can actually live off them. This cash-cranking T-Rex of a company has hiked its dividend 10-FOLD… paying investors like you dividends of $428.57, $913.93, and $924.43! If these ever-increasing payouts sound good to you, click here for all the details.

Income and Prosperity Offer

Income & Prosperity is designed to help you seek out the safest income opportunities and discover an entire world of dividend investments. This free newsletter has a laser-like focus on one issue and one issue only: how can investors near or in retirement generate more income. Each day, you'll receive our best investment idea - skewed towards safe income - but also including lesser known opportunities to grow your wealth while keeping it out of harm's way.
You've successfully subscribed, click the link in your email to confirm your subscription.
There was an error, and you have not been subscribed, please try again.