Disney's first quarter profit was better than analysts' prediction.
Net income was $1.25 billion, or 63 cents a share, compared with $1.7 billion, or 79 cents, a year earlier, Burbank, California-based Disney said today in a statement. That beat the 52-cent average estimate of 19 analysts compiled by Bloomberg. Sales rose 9.1 percent to $10.45 billion, surpassing the $10.1 billion average estimate.
These are very strong numbers posted by The Walt Disney Company, considering that economic climate in the US. Of course, this is very good news for the company. Unfortunately, its stock price went up after this news, which means that I won't be buying any more Disney stocks anytime soon.
Zz.
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