Walt Disney’s Profit Rises, Matching View, but Revenue Misses (DIS)
Entertainment giant The Walt Disney Company (DIS) late Thursday posted in-line fiscal fourth quarter profits, although its revenue totals fell short of Wall Street’s view.
The Burbank, CA-based company reported fiscal fourth quarter net income of $1.24 billion, or 68 cents per share, compared with $1.09 billion, or 58 cents per share, in the year-ago period.
Revenue rose 3.4% from last year to $10.78 billion.
On average, Wall Street analysts expected a matching profit of 68 cents per share, albeit on higher revenue of $10.92 billion.
Walt Disney shares fell $1.50, or -3%, in premarket trading Friday. The stock has gained about 33% since the start of 2012.
The Bottom Line
Shares of Walt Disney (DIS) have a 1.20% dividend yield, based on last night’s closing stock price of $50.04. The stock has technical support in the $45-$46 price area. The stock is trading near all-time highs of $53 a share.
The Walt Disney Company (DIS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.