Walt Disney Co. (DIS) has reported mixed financial results for the year’s second quarter.
The entertainment giant announced earnings per share (EPS) of $2.06 U.S., which surpassed the $1.86 U.S. that had been expected on Wall Street.
However, revenue totaled $25.25 billion U.S., which fell short of the $25.40 billion U.S. that had been the consensus expectation among analysts. Sales were up 7% from a year earlier.
Management said the latest results were largely driven by its parks and streaming divisions.
Revenue for Disney’s experiences segment, which includes global theme parks and cruises, was up 10% year-over-year to $9.97 billion U.S. in the spring quarter.
Disney’s streaming business that is primarily made up of Disney+ and Hulu saw its revenue increase 11% year-over-year to $5.53 billion U.S. during the quarter.
The overall entertainment segment, which also includes traditional TV and theatrically released movies, saw revenue rise 6% to $11.35 billion U.S.
Revenue in the company’s sports segment, which includes the ESPN specialty channel, saw sales jump 4% to $4.50 billion U.S.
Management noted that Disney’s latest results got a boost from a $100 million U.S. tariff refund related to the Trump administration’s levies on trade partners being reversed by the courts.
Company executives also said they are now targeting at least $9 billion U.S. in share repurchases this year, up from $8 billion U.S. previously.
DIS stock has declined 17% in the last 12 months to trade at $98.18 U.S. per share. Over the past five years, the stock has fallen 45%.
