The Walt Disney Company(NYSE:DIS) has announced results for the September quarter, in line with analysts’ expectations. The performance of individual revenue streams were however a mixed bag.
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Net income of the company rose 14 percent to $1.24 billion or 68 cents a share from $1.09 billion or 58 cents last year. The adjusted earnings of 68 cents per share met expectations on the Street.
Revenue jumped to $10.78 billion, but fell short of analysts’ estimates of $10.93 billion.
Ad sales at ESPN were flat, but the company managed to earn higher fees from distributors.
A week ago, Disney had said that it is buying LucasFilm for $4.05 billion and that it would revive the Star Wars franchise in 2015.
Disney’s new cruise ship helped the parks and resorts division to perform better. Revenue from its movie studio however fell on the lackluster performance of “Brave”. Losses at Hulu, its online video service were higher.
The stock fell 5.32 percent to $7.38 in afternoon session.
Meanwhile, Nordstrom, Inc.(NYSE:JWN) has posted strong results for the third quarter on the back of strong demand for its products like men’s shoes and clothing and children’s fashions. It has also revised its guidance for the next quarter.
The net income for the quarter ended October 27 is $146 million or 71 cents a share, much higher than last year’s $127 million. Revenue rose 14 percent to $2.81 billion. The Street had expected the retailer to earn 72 cents on $2.75 million.
The Seattle based company has modified its outlook for the current quarter, Superstorm Sandy being one of the reasons. However, its impact on future business and consumer spending is still not clear. The company now expects EPS between $3.45 and $3.50 a share and a rise in revenue between 6.5 percent and 7 percent.
The results were declared after market close on Thursday. The stock fell 1 percent to $54.85.