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3 Takeaways From Disney's Q2 Earnings Report

ByZacks Investment Research
Published 05/06/2015, 02:32 AM
Updated 07/09/2023, 06:31 AM

Disney (NYSE:DIS) keeps impressing investors, and Q2 earnings showed that this quarter was no exception. Disney’s diluted EPS for the 2nd quarter is up 14% from this quarter a year ago, with earnings of $1.23 per share. As operating income is the driving factor behind a company’s earnings, we will break down and assess revenues and income from Disney’s top 3 operating segments.

Revenues from media networks are up 13% from this quarter a year ago. However, the income from these revenues are 2% lower from this quarter last year. Broadcasting operating income is up 90% from this quarter last year. However, cable networks income is 9% lower compared to this time last year.

Cable networks contribute much more to income than Broadcasting. This is why the bottom line for media network’s income is 2% lower from this time last year. Media networks is the largest segment contributing towards income for Disney.

Parks and Resorts revenues were up 13%. Interestingly, income was up 24%. Not only is Disney increasing its revenues in theme park and resort operations, but it is squeezing out even more profits from the increase in revenue.

Studio entertainment revenue and income are down 6% and 10% respectively compared to this quarter last year. This is worth noting, as studio entertainment income accounts for about 12% of total operating income.

Bottom Line: Disney’s operating income as a whole is up 4% compared to this quarter last year. That is encouraging, and the company’s overall performance for the quarter has been very positive. There are some operating segments which are faltering, but the company is maintaining its track record of topping investor expectations time and time again.

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