The Walt Disney Company(NYSE:DIS) has
announced results for the September quarter, in line with analysts’
expectations. The performance of
individual revenue streams were however a mixed bag.
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Net income of the company rose 14
percent to $1.24 billion or 68 cents a share from $1.09 billion or 58 cents
last year. The adjusted earnings of 68
cents per share met expectations on the Street.
Revenue jumped to $10.78 billion, but
fell short of analysts’ estimates of $10.93 billion.
Ad sales at ESPN were flat, but the
company managed to earn higher fees from distributors.
A week ago, Disney had said that it is
buying LucasFilm for $4.05 billion and that it would revive the Star Wars
franchise in 2015.
Disney’s new cruise ship helped the parks
and resorts division to perform better.
Revenue from its movie studio however fell on the lackluster performance
of “Brave”. Losses at Hulu, its online
video service were higher.
The stock fell 5.32 percent to $7.38 in
afternoon session.
Meanwhile, Nordstrom, Inc.(NYSE:JWN) has
posted strong results for the third quarter on the back of strong demand for
its products like men’s shoes and clothing and children’s fashions. It has also
revised its guidance for the next quarter.
The net income for the quarter ended
October 27 is $146 million or 71 cents a share, much higher than last year’s
$127 million. Revenue rose 14 percent to
$2.81 billion. The Street had expected the
retailer to earn 72 cents on $2.75 million.
The Seattle based company has modified
its outlook for the current quarter, Superstorm Sandy being one of the
reasons. However, its impact on future
business and consumer spending is still not clear. The company now expects EPS between $3.45 and
$3.50 a share and a rise in revenue between 6.5 percent and 7 percent.
The results were declared after market
close on Thursday. The stock fell 1
percent to $54.85.
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