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Walt Disney Q4 profit dropped to $1.05 billion

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Christian Fernsby ▼ | November 8, 2019
Walt Disney fourth quarter profit dropped to $1.05 billion or $0.58 per share from $2.32 billion or $1.55 per share last year.
Walt Disney
Walt Disney   Revenues for the quarter surged 34%
Revenues for the quarter surged 34% to $19.10 billion from last year's $14.31 billion last year. Analysts had a consensus revenue estimate of $19.04 billion.

Topics: Walt Disney

"Our solid results in the fourth quarter reflect the ongoing strength of our brands and businesses," said CEO Robert Iger. "We've spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience, and we're excited for the launch of Disney+ on November 12."

On March 20, Disney acquired 21st Century Fox for $71 billion. Disney will now oversee Fox's storied film and television studios as well as stakes in the Sky PLC pay-television company and the Hulu video-streaming service.