The Walt Disney Co. revealed mixed results in its fourth quarter earnings report Thursday. The media giant reported adjusted earnings of $1.20 per share on $13.51 billion in revenue.
Analysts had expected Disney to report per-share earnings of $1.14 an $13.55 billion in revenue, according to an average of analysts tracked on FactSet.
Disney’s media networks segment accounted for operating income of $1.82 billion, a 27 percent increase from last year. The company, in its announcement, credited affiliate feels and advertiser revenue for the uptick.
Disney posted multiple all-time highs in several reporting categories, despite investor worries about television cord-cutting having a negative impact on Disney and other media companies’ long-term prospects.
Revenue for the year was $52.5 billion, up 7 percent from last year.
“In Fiscal 2015 we delivered the highest revenue, net income and adjusted EPS in the Company’s history, reflecting the power of our great brands and franchises, the quality of our creative content, and our relentless innovation to maximize value from emerging technologies,” Disney CEO and chairman Bob Iger said in a statement.
When Iger cited modest subscriber losses for cable sports network ESPN during in Disney’s third quarter, it triggered a significant decline in media stock prices.
Iger is expected to address cord-cutting fears as well as the upcoming release of feature film “Star Wars: The Force Awakens” in a conference call at 5 p.m. ET.