Walt Disney Co. (NYSE:DIS) stock was down 1.39% in early afternoon trading on May 9. Disney released its second-quarter results after trading closed on May 8. As has been the case in past quarters, it was a mixed bag for Disney.
The largest increase in terms of revenues was in the Parks and Resorts segment, which rose 13% year-over-year to $10.03 billion. Studio entertainment jumped 9% to $4.95 billion. Operating income for Parks and Resorts and Studio Entertainment increased 24% and 12%, respectively.
Disney has achieved remarkable success with its Marvel and Star Wars properties in recent years. Black Panther was an incredible success in 2018, raking in over $1.3 billion worldwide. Avengers: Infinity War has already taken in over $1 billion worldwide. This marks three Disney properties that have exceeded the $1 billion mark worldwide since December 2017.
The month of April was a difficult one for Disney property ESPN. The sports channel lost 500,000 subscribers in the month of April as tax season put the squeeze on consumers in the United States. ESPN now clocks in at 86 million subscribers compared to the 100 million it boasted in 2011. In the third quarter Disney Cable Networks still saw revenues increase 3% year-over-year to $8.7 billion.
Disney is also set to launch its streaming service in 2019 which will host its original content. The stock offers a semi-annual cash dividend of $0.84 per share representing a 1.6% dividend yield.
