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Stocks D / Disney
|Subject: MouseBucks - Forget Earnings, Talk Star Wars!||Date: 2/6/2013 1:52 PM|
|Author: Fuskie||Number: 48394 of 50069|
What The Media Is Saying
A drooping movie studio pulled down profits at the Walt Disney Co. during the final three months of 2012, but business at the company's theme parks continued to grow. The entertainment company said Tuesday it earned approximately $1.4 billion in the three-month period that ended Dec. 29, the first quarter of Burbank, Calif.-based Disney's fiscal year. That was down 6 percent from a year earlier, when Disney made nearly $1.5 billion. Total sales rose 5 percent for the quarter to $11.3 billion.
Walt Disney Co. delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Disney is mining The Force for even more new films. Walt Disney Co. CEO Bob Iger said Tuesday that screenwriters Larry Kasdan and Simon Kinberg are working on stand-alone “Star Wars” movies that aren’t part of the new trilogy that’s in the works. Iger said the movies would be based on “great ‘Star Wars’ characters that are not part of the overall saga.” The films would be released during the six-year period of the new trilogy, which starts in 2015 with “Star Wars: Episode VII.”
Walt Disney Co beat estimates in quarterly adjusted earnings on Tuesday and said it expects the next few quarters to be better on a stronger lineup of films and growing attendance at its theme parks. The results, which come despite the rising costs of acquiring programming for its ESPN sports juggernaut and included its interactive unit swinging back to profit, helped lift shares in the media giant 1.7 percent in after-hours trading.
The Walt Disney Company's 80% ownership in ESPN gives it the leverage to make the moves necessary to make streaming sports content a reality and is the only company capable of making cord-cutting a reality for millions of us.
In a First on CNBC interview with CNBC's Julia Boorstin, The Walt Disney Co. Chairman & CEO Bob Iger confirms speculation the company is working on stand-alone films based on 'Star Wars' characters. They will not be part of the main 9-part 'Star Wars' saga. Unofficial transcript is below.
Who is not surprised that the media is fascinated by all things Star Wars, but he is surprised that he didn't remember Disney only owns 80% of ESPN...
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