Here are four things to know about Walt Disney’s first quarter results.
1. Walt Disney’s media networks division saw profits fall 12 percent in the first quarter ended Dec. 30, 2017. The company attributed the decline to lower advertising revenue and program sales associated with its ABC network, as well as higher production cost write-downs.
2. At the same time, Walt Disney saw revenue climb 3.8 percent to $15.4 billion. The company’s theme parks division brought in $1.3 billion in operating income for the first quarter of 2018.
3. The company also received a $1.6 billion gain under new U.S. tax code.
4. Walt Disney ended the first quarter of 2018 with net income of $4.4 billion.
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