{"id":213512,"date":"2019-05-09T05:47:32","date_gmt":"2019-05-09T09:47:32","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=213512"},"modified":"2019-05-09T05:47:32","modified_gmt":"2019-05-09T09:47:32","slug":"disneys-2q-beats-estimates-despite-soft-theatrical-revenue","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/05\/09\/disneys-2q-beats-estimates-despite-soft-theatrical-revenue\/","title":{"rendered":"Disney’s 2Q beats estimates despite soft theatrical revenue"},"content":{"rendered":"
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Disney’s adjusted second-quarter net income declined as higher revenue from its parks was not enough to offset lower theatrical revenue. (Photo By Coolcaesar – Own work, CC BY-SA 4.0)<\/a><\/figcaption><\/figure>\n

NEW YORK \u2014 Disney’s adjusted second-quarter net income declined as higher revenue from its parks was not enough to offset lower theatrical revenue.<\/p>\n

However, the\u00a0entertainment\u00a0giant’s results still beat Wall Street expectations.<\/p>\n

The lower theatre revenue in the quarter that ended March 30 was due to tough comparisons from a year ago, when the company released \u201cBlack Panther\u201d and \u201cStar Wars: The Last Jedi.\u201d During the same period this year Disney released \u201cCaptain Marvel.\u201d<\/p>\n

The quarter closed just ahead of the release of the Marvel movie \u201cAvengers: Endgame\u201d in April. That movie had become one of the most successful movies of all time.<\/p>\n

Net income for the quarter ended March 30 jumped 85% to $5.34 billion, or $3.55 per share. The company’s bottom line got a big boost from a non-cash gain from its acquisition of controlling interest in streaming service Hulu.<\/p>\n

Adjusting for that and other one-time items, Disney’s quarterly net income came to $1.61 per share, down from $1.84 a share a year ago. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share in the latest quarter.<\/p>\n

Revenue edged up 3% to $14.92 billion. According to FactSet, analysts had expected $14.56 billion.<\/p>\n

Disney, which is based in Burbank, California, closed on its $71 billion acquisition of Fox’s\u00a0entertainment\u00a0assets during the quarter. It is using Fox assets, including \u201cThe Simpson,\u201d \u201cNational Geographic\u201d and other properties to help launch its streaming service Disney Plus in November. \u201cAvengers: Endgame\u201d is slated to hit the service in December.<\/p>\n

Its upcoming theatrical releases over the course of 2019 include live action versions of \u201cAladdin,\u201d and \u201cThe Lion King,\u201d as well as \u201cMaleficent: Mistress of Evil,\u201d \u201cToy Story 4,\u201d \u201cFrozen 2\u201d and \u201cStar Wars: The Rise of Skywalker.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK \u2014 Disney’s adjusted second-quarter net income declined as higher revenue from its parks was not enough to offset …<\/p>\n","protected":false},"author":44,"featured_media":151594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-213512","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-mae-anderson","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/213512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=213512"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/213512\/revisions"}],"predecessor-version":[{"id":213513,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/213512\/revisions\/213513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/151594"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=213512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=213512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=213512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}