NEW YORK -- Walt Disney's (DIS) fiscal first-quarter profit dipped slightly but it topped expectations as revenue rose 5% to $11.3 billion.
Disney earned $1.38 billion, or 77 cents a share, in the first quarter, down from year-earlier earnings of $1.46 billion, or 80 cents a share.
Adjusted earnings in the quarter were 79 cents a share, topping the Wall Street estimate of 76 cents a share.
Disney said programming and production costs at its ESPN network rose during the quarter.Disney CEO Robert Iger, during a conference cal Tuesday, said the entertainment giant was "confident about the year ahead, as well as our ability to create continued long-term growth."
Zynga (ZNGA) topped Wall Street's estimates on Tuesday, posting profit of 1 cent a share on fourth-quarter revenue of $311.1 million. Analysts were looking for a loss of 3 cents a share on sales of $212.1 million. For the full year, Zynga reported sales of $1.28 billion, up 12% from a year earlier, as daily active users (DAUs) increased to 56 million in the fourth quarter from a year-earlier 54 million. DAUs decreased 6% sequentially from the third quarter to the fourth quarter. For the first quarter of 2013, Zynga said it expects revenue of $255 million to $265 million, and a loss off 2 cents to 4 cents a share. Zynga Has 'Words With Investors,' Earns Profit
Time Warner (TWX), which owns networks CNN and HBO and the New Line Cinema and Warner Brothers movie studios, is expected by analysts Wednesday to post fourth-quarter earnings of $1.10 a share on revenue of $8.25 billion. Give Amazon Some Respect
News Corp (NWSA) is expected by Wall Street Wednesday to report quarterly profit of 42 cents a share on revenue of $9.28 billion. The media company plans to split later in 2013 into a publishing company and a filmed entertainment business.
Drug retailer CVS Caremark (CVS) is forecast to earn $1.10 a share in the fourth quarter on revenue of $31.13 billion. 5 Hated Stocks Set to Soar on Earnings
Chipotle Mexican Grill's (CMG) fourth-quarter earnings rose 7% as same-store sales jumped 3.8% on higher customer traffic.
-- Written by Joseph Woelfel
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