Wild ride

6 February 2018 By Jennifer Saba Follow @jennifersaba

The House of Mouse is set to assimilate $52 bln of Fox assets. CEO Bob Iger also needs to steady ESPN, deal with declining TV networks and potential “Star Wars” fatigue while spending billions on video-streaming products. The next several years will be a hair-raising ride.

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Walt Disney on Feb. 6 reported fiscal first-quarter earnings of $4.4 billion. Results included a $1.5 billion benefit as a result of recent U.S. tax cuts. Adjusted earnings of $2.9 billion were 22 percent higher than the same period a year earlier. At $1.89 per share, earnings beat the consensus estimate of sell-side analysts of $1.61 per share, according to Thomson Reuters data.

Revenue for the quarter was just shy of $15.4 billion, compared with the consensus estimate of $15.5 billion.

Disney on Dec. 14 agreed to buy certain assets from Twenty-First Century Fox for $52.4 billion in stock.

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