The Walt Disney Company (NYSE: DIS) today reported quarterly earnings for its third fiscal quarter ended July 1, 2017. Diluted earnings per share (EPS) for the quarter decreased 5% to $1.51 from $1.59 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter decreased 2% to $1.58 from $1.62 in the prior-year quarter. Diluted EPS for the nine months ended July 1, 2017 decreased to $4.55 from $4.63. Excluding certain items affecting comparability(1), EPS for the nine months increased to $4.63 from $4.61.
“Today we announced a strategic shift in the way we distribute our content. The media landscape is increasingly defined by direct relationships between content creators and consumers, and our control of BAMTech’s full array of innovative technology will give us the power to forge those connections, along with the flexibility to quickly adapt to shifts in the market,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “This acquisition and the launch of our direct-to-consumer services mark an entirely new growth strategy for the Company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands.”
“Our results for the quarter reflect the underlying strength of our brands and franchises, and our continued investment in high-quality content. Our ability to successfully execute on our core strategy, coupled with our plans for new direct-to-consumer offerings, give us continued confidence in our ability to drive shareholder value,” said Christine M. McCarthy, Senior Executive Vice President and Chief Financial Officer, The Walt Disney Company.
The following table summarizes the third quarter and nine-month results for fiscal 2017 and 2016 (in millions, except per share amounts):
The Orlando Magic will have the power of pixie dust in its court starting next season, as Walt Disney World Resort becomes the basketball team’s first jersey sponsor. Starting with the 2017-18 NBA season, fans will feel the magic when the Disney logo is added on players’ jerseys as part of this expanded community sponsorship agreement.
“With Orlando as our hometown, magic has always been a key strand of our DNA,” said Orlando Magic CEO Alex Martins. “This expanded agreement with Disney brings our story full circle and represents the coming together of two dynamic organizations that have become synonymous with Orlando.”
Since becoming a Champion of the Community sponsor with the Magic in 2010, Disney has been working with the Magic on outreach initiatives that benefit the local community and make Central Florida a better place to live, work and play. The uniform sponsorship strengthens the relationship between Disney and the Magic and will connect both fan bases, provide shared marketing opportunities and cement Central Florida’s reputation as a global sports destination.
“At Walt Disney World Resort, we naturally believe in all things magic and are happy to support our hometown team,” said George A. Kalogridis, president of Walt Disney World Resort. “This long-term relationship symbolizes our shared focus of solidifying Orlando as a world class city for sports.”
As part of this multi-year agreement, Disney will expand its presence at the Amway Center by adding a special seating and hospitality area that may be used for annual passholder upgrades during select Orlando Magic home games. Disney-branded Orlando Magic jerseys will also be available for purchase at the Amway Center.
The Orlando Magic becomes the seventh NBA team to announce a jersey sponsorship.
Walt Disney Co.’s ambitious $5.5 billion Shanghai theme park is close to breaking even after its first full year of operations — a mark none of its resorts have been able to hit in the last 30 years, said Chief Executive Officer Bob Iger.
Walt Disney Co.’s film studios unit hit a new milestone: $2 billion in international box office sales so far this year thanks in part to a strong showing for “Pirates of The Caribbean: Dead Men Tell No Tales,” the fifth film in that franchise.
The Walt Disney Company (NYSE:DIS) today reported quarterly earnings for its second fiscal quarter ended April 1, 2017. Diluted earnings per share (EPS) for the quarter increased 15% to $1.50 from $1.30 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter increased 10% to $1.50 from $1.36 in the prior-year quarter. EPS for the six months ended April 1, 2017 increased to $3.05 from $3.04 in the prior-year period. Excluding certain items affecting comparability(1), EPS for the six months increased 2%.
Walt Disney Co. DIS, on Tuesday announced the release dates for a handful of future films, including its live-action remake of “Lion King” (July 19, 2019), “Star Wars: Episode IX” (May 24, 2019) and the sequel to its 2013 animated hit “Frozen” (Nov. 27, 2019).
The Walt Disney Company DIS is one of the biggest media and entertainment corporations in the world. Known best for its popular animated feature films and tourist-favorite theme parks and resorts, Disney has held a major piece of America’s media identity since its founding in 1923.
Inasmuch as you can hang a dollar value on it, the market currently values the Walt Disney Company (NYSE:DIS) — the company behind many of our fondest childhood memories — at a cool $175 billion.
Disney’s (DIS) board of directors this week bought themselves more time before having to make the big, seemingly impossible decision as to who will succeed Bob Iger as CEO. In the coming weeks, legions of Disney watchers will attempt to read corporate tea leaves much as the CIA tried for years to gauge who would lead the Politburo during the Cold War.