February 8, 2013- The Walt Disney Company (DIS) beat the estimates of industry analysts by reporting higher-than-expected quarterly adjusted earnings and also said that it expects earning to remain very strong over the next several quarters.
It should come as no surprise to the professionals who keep their eyes on American business. The Walt Disney Company is a high achiever, an organization that seems to always perform at a peak level.
A company spokesperson claimed the strong quarterly earnings can be attributed to a number of factors. The Walt Disney Company’s exceptional financial performance is due largely to the stronger lineup of theatrical films it has been able to put together and because attendance at its various theme parks is up.
Those two positive factors enabled the company to overcome the rising costs associated with the purchase of programming for ESPN, the sports network it owns.
Stock values for the Walt Disney Company rose by 1.7% in after-hours trading yesterday. And while net income for the fiscal quarter fell by about six percent to $1.38 billion, adjusted earnings increased beyond estimates to seventy nine cents per share.
The company, which owns Lucas Films, also announced that it will release a new Star Wars movie in 2015.