ESPN's streaming service will cost $4.99 and launch this spring

ESPN logo

Disney shares gained less than 1% in late trading. After adjusting for the one-time windfall and other effects, the company reported adjusted earnings of $1.89 a share, up from $1.55 a year ago, on revenue of $15.35 billion, up from $14.8 billion.

Tuesday's investor call was a busy one for Disney, who took the opportunity to lock down plans for multiple Star Wars TV projects along with a new film series from David Benioff and D.B. Weiss, the creative masterminds behind HBO's über-popular Game of Thrones.

Those regulatory processes that Iger is referring to could allow other companies to place a bid on the assets from 21st Century Fox, with the most recent rumor indicated Comcast might want to get into the mix. The app will also provide what the WatchESPN does now with streaming feeds of ESPN's family of networks along with option to subscribe to the complementary ESPN+. That trend continued in the quarter, which also was hit by fewer college football games compared with a year earlier.

On the bright side, Disney's Parks and Resorts revenue rose by 13% to US$5.2 billion.

Which is good news, seeing as Disney's media networks reported flat revenue and a 12% decline in operating income due to weaker ad sales at ESPN. The company's largest network, ESPN, will launch a streaming service for sports fans in 2018 followed by an entertainment offering the following year.

ESPN logo
Images SHARE

"The strategic investments we've made have driven meaningful growth over the long term, and we remain confident in our ability to continue to deliver significant shareholder value", said Disney Chairman and CEO, Robert A. Iger.

"The company has clear tailwinds heading into 2018", GBH Insights analyst Daniel Ives said. The entertainment giant posted quarterly adjusted EPS of $1.89 and $15.35 billion in revenues. Analysts on average had expected revenue of $15.46 billion. The media conglomerate recorded a $1.6 billion gain due to recent changes to the USA tax law.

The success of Disney parks and resorts was driven by new attractions such as Pandora - the World of Avatar in Orlando, which helped increase attendance by 6% across the company's U.S. theme parks. The segment's theatrical business had a solid quarter due to the strong performances of Star Wars: The Last Jedi, Thor: Ragnarok, and Coco, and these three films collectively generated over $4.4 billion in the global box office.

Operating income for the studio declined 2 percent to $829 million, Disney said.


Related News:



Most liked

Women's enfranchisement 100 years on: How much has really changed?
In 1893 women in South Australia achieved the same right and became the first to obtain the right to stand for parliament in 1895. Take that great Victorian liberal philosopher John Stuart Mill and his wife Harriet Taylor, champions of female suffrage.

Chief of Staff Kelly's credibility vanishes with Portman debacle
He did not directly address whether the White House regrets Porter was hired under the circumstances. As an assistant to the president, Porter was paid the top White House staff salary of $179,000.

Auto expo gets electric push
Anand Mahindra, chairman, M&M, and Pawan Goenka, managing director, replicated the gesture by walking through the pavilion. However, considering the vehicle has been showcased again, we can be hopeful that the project is not dead yet.

Williams, Clippers closing on new deal
It could help the Clippers by buying them more time to make a deal, potentially moving him during the summer. Surrounded by trade rumors, the professional scorer was a borderline All-Star this year but just missed out.

Cancer vaccine eliminates tumors in mice
Researchers at the Stanford University School of Medicine injected a cancer vaccine in 90 mice, and a lot of them were cured. The cancer did recur in three of the animals, but the tumors later regressed after another round of immune treatment.

Mets reportedly sign Todd Frazier to a two-year, $17 million contract
Frazier hit 27 home runs previous year , while driving in 76 RBI between the White Sox and Yankees with an OBP of.344. The New Jersey native was said to be interested in remaining in NY .

TTP bombing kills 11 troops in Swat Valley
A large contingent of security personnel had secured the area after the attack and started an initial investigation into the blast.

Amazon Prime Exclusive phones remove lockscreen ads
Now, with a fresh software update that'll begin rolling out tomorrow, you won't see any ads on the lock screen at all. Amazon's Prime Exclusive Phone line-up has always been one to consider while simultaneously wanting to throw-up.

Mkhitaryan Opens Up About Relationship With Aubameyang
We finished very well as well", he said, adding that he was happy with the way his new players had integrated with the team. And Williams sided with Allardyce's opinion as Everton continue on a run of just one win in eight Premier League games.

Polar Bears Require More Food to Survive Than Thought
During that time the bear crossed into Canada, having walked almost 270 miles (430 kilometers) since her collar had been applied. As the ice dwindles, "we are essentially pulling the rug out from underneath the polar bears", Durner said.

Woodson for Black History Month
The message was ripe with material to poke fun at, like Vank not knowing what the word "sojourner" means and her need to cap off the Black History tweet on an implied #AllLivesMatter note.

Super Bowl Halftime Performer Justin Timberlake Says Son 'Will Never' Play Football
I mean, great hair. 'And if he wants to get into the arts or sports, then yeah, I would fully support that. According to Timberlake, his band The Tennessee Kids will be the only performers joining him Sunday night.

Markets Right Now: After a stumble, stocks end a bit higher

Tribunal overturns doping bans on 28 Russian athletes
The IOC will not have to decide on the individual cases of the 28 athletes on whether they can compete in Pyeongchang or not. Both Russians had their suspensions reversed and results reinstated by CAS on Thursday.

ICICI Bank Q3 net falls 32%
Net NPAs were at 4.2% in the December quarter compared to 4.43% in the previous quarter and 3.96% in the same quarter past year . Meanwhile, the net NPAs fell to Rs 23,810 crore against Rs 24,129 crore quarter on quarter.