Disney Shares Poised To Hit New High After It Beats Earnings Expectations

because it owns your childhood.


Big wheels keep on turning at Disney. Shares are up about 1.8% in pre-market trading, suggesting they’ll hit a new high, after the company reported fiscal Q2 results well ahead of Wall Street’s expectations.

The entertainment giant generated $2.1 billion in net income, up 10% vs the first three months of 2014, on revenues of $12.5 billion, up 7%. Analysts looked for revenues of $12.25 billion. Earnings at $1.24 a share topped forecasts for $1.10.

The quarter “demonstrates the incredible ability of our strong brands and quality content to drive results,” CEO Bob A. Iger says. “The power of this winning combination is once again reflected in the phenomenal worldwide success of Marvel’s Avengers: Age of Ultron, which has opened at number one in every market so far.”

The early 2015 numbers show surprising strength in broadcasting, and weakness in cable — but with explanations.

ABC revenues were up 19% to $1.8 billion…

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