The Walt Disney Co (NYSE:DIS) is expected to report Q3 earnings after the market close on Tuesday, August 10 with a conference call scheduled for 4:30 pm ET.
Analysts are looking for a profit of 58c on revenue of $9.37B. The consensus range is 54c-68c for EPS, and revenue of $9.08B-$9.74B, according to First Call. During the quarter, Disney announced the sale of Miramax Films to Filmyard Holdings for $600M, sold Power Rangers back to Haim Saban, acquired Playdom for $563.2M, and its ESPN unit reportedly reached an agreement in principle to sell BASS, LLC. In addition, ABC Entertainment President Steve McPherson stepped down, with Paul Lee succeeding him. CEO Bob Iger recently floated a possible sale of the ABC Network but is unlikely to pursue anything after getting an idea of what it might be worth, the New York Post reported.
Tony Wible of Janney Capital Markets says Disney's recent decision to raise park ticket prices is a good sign for the company's earnings report, indicating that park revenues are holding up despite the lack of discounts and increasing economic pressure. The analyst believes Disney will report stronger than expected Q3 earnings.