Disney (DIS) reported strong 4Q06 earnings. EPS of 36 cents compared to a rising 33 cent consensus and revenues of $8.8 billion were ahead of the consensus estimate of $8.7 billion. Segment level results were as good as or better than expected across the board with particular strength in Studio Entertainment and Theme Parks. Despite […]
Disney (DIS) is expected to report strong 4Q06 earnings to wrap up its fourth consecutive year of double digit EPS growth. EPS are expected at 33 cents on revenues of $8.69 billion. The EPS comparison would represent growth of 43% against an easy comparison a year ago when $300 million in losses were recognized at […]
Following three straight weekly declines, the box office rose 6.6% vs. a year ago this past weekend. The weekend is actually the first one of the fourth quarter. Consequently, I wanted to look back at the completed numbers for the third quarter. Despite the weakness exhibited in the final three weeks, the third quarter still […]
Yesterday, in the post immediately below, I mentioned that Disney (DIS), News Corp (NWS, NWS.a), and Time Warner (TWX) were all trading at 52 week highs. Departing from the doom and gloom that Dominates most discussion of media stocks, I laid out some big picture thoughts that might be driving the bullish action in the […]
Wow! Time Warner (TWX), Disney (DIS), and News Corporation (NWS, NWS.A) all made 52 week highs yesterday. On the one hand I shouldn’t be surprised because the Dow and S&P 500 are at multiyear highs. On the other hand, media stocks as a group have been pretty poor over the last few years with key […]
Last week saw a flurry of acquisition and divestiture activity in the radio industry including news that the buyer of Disney’s radio assets, Citadel Broadcasting, wants to renegotiate to lower the purchase price. News that Citadel wants to renegotiate the terms of its buyout of ABC’s radio assets is not surprising and likely led to […]
Disney (DIS) reported much better than expected 3Q06 EPS. EPS of 53 cents easily beat consensus of 44 cents (3Q EPS were aided by 1-2 cent accounting benefit). Revenues were only slightly better than expected so it was operating profit performance that provided the upside. In particular, the Studio, Theme Parks, and Consumer Products provided […]
A new study by McKinsey & Co., highlighted at AdAge.com, does a good job of explaining why television advertising is facing such strong growth headwinds. The key pull quote from the AdAge article is that the study claims that “by 2010, traditional TV advertising will be one-third as effective as it was in 1990.” The […]
The real excitement surrounding 3Q06 earnings from Disney (DIS) will concern how it impacts the outlook for FY07. Despite strong fundamentals and consistent double-digit growth, DIS shares have stalled over concerns about 2007. Recently, estimates have been falling and now reflect just over 10% EPS growth. Concerns surround tough comps for the theme parks, slowing […]
After 17 days in theatres, Pirates of the Caribbean: Dead Man’s Chest is the fastest grossing film in history. The movie remains comfortably on track to produce better than expected profits. In fact, benefits to Disney (DIS) relative to current expectations could begin as soon as the September quarter since the film seems likely to […]
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