Walt Disney Company Revealed the 2nd Quarter Earnings Report.

The Walt Disney company revealed 2^nd quarter earnings report of 2019, which ended on March 31, 2019.  The 2^nd quarter report showed their revenue up by 3%, however, their income was down 10%.  The earnings report is the second under a strategic reorganization plan taking place last year creating the divisions of parks and resorts to the now parks, experiences and consumer products.

Chairman and CEO Bob Iger stated, “We’re very pleased with our Q2 results and thrilled with the record-breaking success of Avengers: Endgame, which is now the second-highest grossing film of all time and will stream exclusively on Disney+ starting December 11th. The positive response to our direct-to-consumer strategy has been gratifying, and the integration of the businesses we acquired from 21st Century Fox only increases our confidence in our ability to leverage decades of iconic storytelling and the powerful creative engines across the entire company to deliver an extraordinary value proposition to consumers”.

Overall Earnings Report:

• Diluted Earnings per share up 81%, from $1.95 to $3.53
• Parks, Experiences, and Consumer Products: 5% growth in revenues and 15% growth in operating income for the 2nd quarter
• Direct-to-Consumer and International: 15% growth in revenues and 109% decrease in operating income for the 2nd quarter
• Media Networks: Less than 1% growth in revenues and 3% decrease in operating income for the 2nd quarter
• Studio Entertainment: 15% decrease in revenues and 39% decrease in operating income for the 2nd quarter
• 21st Century Fox: This is the first quarter numbers have been reported, so there is no comparison to last year

Parks, Experiences, and Consumer Products:

• Revenues up 5%, from $5.903 Billion to $6.169 Billion
• 15% Growth in segment operating income, from $1.309 billion to $1.506 billion
• Increase at Consumer Products due to growth in the games business
• Disney Cruise Line had a higher operating income due to the dry-dock for the Disney Magic in 2018

Direct-to-Consumer and International

• 15% growth, from $831 Million to $995 Million
• Operating income loss fell 109%, from $188 million to a loss of $393 million
• Loss of operating income is due to the ongoing investment in ESPN+

Media Networks

• A 1% increase in the media networks division, from $5.508 Billion to $5.525
• Segment operating income fell 3%, $2.185 billion down from $2.258 billion

Studio Entertainment

• Revenues decreased 15%, from $2.499 biliion to $2.134 billion
• Operating income dropped 39%, from $874 million to $534 million

Source: WDW Info

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