Disney earnings Q3 2017

Earnings


The company also announced that it will no longer stream its movies on Netflix starting in 2019. Disney instead plans to launch in 2019 a direct-to-consumer streaming service, which will host its films exclusively.

In a Tuesday interview with CNBC’s Julia Boorstin on “Closing Bell,” Iger said that Disney has “no plans” to pull Marvel shows from Netflix. The CEO added that the Disney and Netflix have a “good relationship.” Iger also said that Disney may decide to license other content to the streaming giant in the future.

During the third quarter, the Disney also celebrated the first anniversary of Shanghai Disney Resort. The company said in June more than 11 million people visited the park in its first year of operation.

Disney said that Shanghai Disney Resort and Disneyland Paris contributed to the 18 percent year-over-year growth in its theme park business.

Here’s how the company’s broader results compare to what Wall Street expected:

  • Adjusted EPS: $1.58 vs. $1.55 expected, according to Thomson Reuters
  • Revenue: $14.24 billion vs. $14.42 billion expected, according to Thomson Reuters

In the year-ago period, Disney reported adjusted earnings of $1.62 per share on $14.28 billion in revenue.

In March, Disney’s board announced it was extending Iger’s contract to July 2, 2019. The company has not yet named a successor for him.

When CNBC asked the Disney CEO if he’d run for office, Iger said he hasn’t thought much about what he will do when he leaves the company.



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