The widely held Walt Disney Company reported mixed earnings for Q4.Profits were 0.80 a share versus an estimate of 0.72,while sales were 10.8 billion dollars versus an estimate of 11.2 billion.Parks and resorts showed a 10% increase in revenue,and media and entertainment revenue increased 30%.
We had real strength in our cable networks,led by Disney Channel and ESPN,which brings in 40% of Disney's revenue.We're growing all of our businesses,as by the Marvel acquisition with the movie "The Avengers,"said CEO Bob Iger.The numbers at our parks are very encouraging.I think it says a lot about the American consumer.
We had an NBA strike,but ESPN's advertising was actually up for the quarter.The cruise ships are about 75% booked for the year on 40% more rooms.
The entire cruise ship business was hurt short term by the Costa Concordia sinking in January,but generally speaking,we're seeing a good year ahead for that business.
Foreign sites are stealing and reselling our property,hurting our economy.This company has looked at tech as a new means of opportunity for us;we believe we can monetize it,Mr.Iger stated.
CNBC's Karen Finerman said she owns Disney shares.It's a premier company that doesn't get a premier valuation,and it should,in her opinion.
Disney and Univision are launching a 24 hour English language ABC News channel targeted at Hispanics.Ninety percent of U.S. Latinos under 30 are consuming in English,so the project makes economic sense.
Walt Disney(DIS)
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