Reuters - Video

EDITION: U.S. | U.K. | IN

Finance Videos

Disney earns fall but beat forecasts

Tuesday, February 05, 2013 - 01:31

Disney stock rose in after hours trading after its earnings came in better than forecasts, even as rising costs at ESPN weighed on results. Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

PLEASE NOTE: THIS EDIT CONTAINS 4:3 MATERIAL Disney's quarterly earnings beat forecasts and revenue rose 5 percent- which was better than expected. But the results were lower than a year ago. One problem: rising costs for buying TV sports rights at its ESPN network- that was already known. But there are other concerns. Reuters' LA Bureau Chief Ron Grover: SOUNDBITE: RONALD GROVER, REUTERS LOS ANGELES BUREAU CHIEF (ENGLISH) SAYING: "The problem is the studio numbers still don't look great. Yes they told The Street that the studio's numbers weren't going to look great. But earnings were off by about 5%. That's a lot for the studio." Revenues were up in their parks and resorts division. Disney has been investing in new attractions and charging higher prices at its theme parks. Morningstar's Michael Corty: SOUNDBITE: MICHAEL CORTY, EQUITY ANALYST, MORNINGSTAR (ENGLISH) SAYING: "They made a lot of needed improvements to the park in Florida and I think that is going to benefit results in the Florida park for the next couple of years. And in California they have the "Cars Land" and that started benefiting Disney in the middle of 2012 and I'd expect that to continue through this year as well." Disney stock has been near record levels, and rose on the news. But it's fully valued according to Morningstar's Corty: SOUNDBITE: MICHAEL CORTY, EQUITY ANALYST, MORNINGSTAR (ENGLISH) SAYING: "We are telling our clients to basically hold the stock at this price. I think all the fundamentals for Disney are looking very strong but I believe a lot of that is priced into the stock at these levels. Disney also says it has sold out its advertising for the upcoming Academy awards.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Disney earns fall but beat forecasts

Tuesday, February 05, 2013 - 01:31

Top News »

Editors' Picks »

Business »

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)