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Walt Disney tops 4Q net income expectations, misses revenue forecasts

BURBANK, Calif. – BURBANK, Calif. (AP) _ The Walt Disney Co. (DIS) on Thursday reported fiscal fourth-quarter earnings of $1.61 billion.

On a per-share basis, the Burbank, California-based company said it had net income of 95 cents. Earnings, adjusted for pretax expenses and restructuring costs, came to $1.20 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The entertainment company posted revenue of $13.51 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $13.56 billion.

Disney shares have increased 20 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 2 per cent. In the final minutes of trading on Thursday, shares hit $113, a climb of 24 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DIS at http://www.zacks.com/ap/DIS

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Keywords: Walt Disney, Earnings Report, Priority Earnings