Disney Q4 Meets Street Estimates, Studio Entertainment Leads Way

Disney posted fourth quarter earnings of $0.89 a share on revenue of $12.39 billion. Wall Street analysts were looking for a profit of $0.88 on sales of $12.37 billion. Last year, the media giant earned $0.77 per share on $11.57 billion in sales. As for details, media networks revenues for the quarter increased 5% to $5.2 billion with operating income flat at $1.4 billion. Parks and resorts revenues increased 7% to $4.0 billion with operating income up 20% to $687 million. Studio entertainment revenues for the quarter increased 18% to $1.8 billion while consumer products revenues for the quarter increased 7% to $1.1 billion. TheStreet's Gregg Greenberg has details from New York.