The family entertainment giant barreled past Wall Street's profit targets, just as it has done in every single quarter since CEO Bob Iger took over.
Last night's quarter was a beauty. Earnings from continuing operations climbed 23% to $1.1 billion, or $0.58 a share. Revenue inched 10% higher to $8.7 billion, with all four of Disney's operating segments posting year-over-year gains.
Wall Street was nervously anticipating the company's theme park numbers, and they were brilliant. Revenue and operating profits rose 11% and 33%, respectively. Then again, with Great Wolf Resorts
The company's media networks were also a concern. Disney's cable properties, like ESPN and the Disney Channel, would surely do well, since they're mostly subscriber-based (like Viacom
As good as things were, there's always the hope that things will get better. On the theatrical front, Disney has The Chronicles of Narnia: Prince Caspian opening next week, with Pixar's Wall-E rolling in next month.
Either way, until Iger proves mortal, it's a sucker's bet to bet against Disney.
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Longtime Fool contributor Rick Munarriz can usually be found at Walt Disney World. He's the one wearing the "Bob Iger Fan Club" T-shirt. He does own shares in Disney and units in Cedar Fair. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.