Walt Disney modestly beat Wall Street expectations on Wednesday as it revealed earnings for its March-end quarter. The company posted net income of $1.27 billion, and taking out some one-time charges, diluted earnings per share of $0.93. Revenues for the quarter and six months grew 13% and 10%, respectively.
Analysts were expecting Disney to report earnings of $0.89 per share on revenue of $21.7 billion. Disney shares closed Wednesday at $101.13 per share, down 1% Wednesday and 13.7% since the beginning of the year. Share prices have fluctuated this year between a low of $88.87 in early January and a high of $113.21