Here's Why The Best Is Yet to Come for The Walt Disney Company
Walt Disney (NYSE: DIS) had a strong first half 2017 despite negative headwind in its ESPN business.
The company reported $3.05 in earnings per share (EPS) for the six-month period, up from $3.04 a year ago. Disney's results were fueled by its Parks and Resorts division, which saw an 8% increase in revenue as well as a 16% increase in segment operating income. Studio Entertainment has been another high point for the company, with revenue for the first two quarters inching up 1% to $2 billion while segment operating income increased 21% to $656 million.
Media Networks, largely due to ESPN, was a weak spot for Disney -- revenue grew by 3%, but operating income dropped by the same amount. The company blamed the sports network's problems on "higher programming costs, partially offset by affiliate and advertising revenue growth," in its earnings release.
Source: Fool.com
Walt Disney Co. Stock
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