Revenues Up, Income Down For Fourth Fiscal Quarter At The Walt Disney Company

Q4

THE WALT DISNEY COMPANY fourth fiscal quarter 2019 revenues rose 34% year-to-year to $19.1 billion, with net income down 66% to $785 million and diluted earnings per share from continuing operations off 72% to $0.43 (down 28% to $1.07 excluding items affecting comparability).

Media Networks revenue increased 22% to $6.51 billion, including cable up 20% to $4.2 billion and broadcasting up 26% to $2.3 billion; the division includes the company's audio operations like ESPN AUDIO, for which results are not broken out. The results for 2019 include the acquisitions of TWENTY-FIRST CENTURY FOX INC. and controlling interest in HULU.

“Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses,” said Chairman/CEO BOB IGER. “We’ve spent the last few years completely transforming THE WALT DISNEY COMPANY to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience, and we’re excited for the launch of DISNEY+ on NOVEMBER 12th.”

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