Walt Disney Co (NYSE: DIS) reported stronger-than-expected earnings for its fourth quarter on Thursday.
The entertainment conglomerate, based in Burbank, California, said diluted earnings per share (EPS) for the fourth quarter increased 37% to $1.55 from $1.13 in the prior-year quarter. Excluding certain items affecting comparability, EPS for the quarter increased 38% to $1.48 from $1.07 in the prior-year quarter.
EPS for the year increased to $8.36 from $5.69 in the prior year. Excluding certain items affecting comparability, EPS for the year increased to $7.08 from $5.70 in the prior year.
CEO Robert Iger enthused, "We’re very pleased with our financial performance in fiscal 2018, delivering record revenue, net income and earnings per share.
"We remain focused on the successful completion and integration of our 21st Century Fox acquisition and the further development of our direct-to-consumer business, including the highly anticipated launch of our Disney-branded streaming service late next year."
Disney went on to say, in its news release, that higher segment operating income was due to increases at Parks and Resorts and Studio Entertainment, partially offset by decreases at Media Networks and Consumer Products & Interactive Media. The increase at Parks and Resorts was due to growth at both its domestic and international operations.
The increase at domestic operations was due to higher guest spending and volumes, partially offset by cost inflation, higher technology and operations support expenses and a special fiscal 2018 domestic employee bonus
Stock in what is known colloquially as “The Mouse” pointed higher by $2.09, or 1.8%, to $118.09.
