Exhibit 99.1
FOR IMMEDIATE RELEASE
November 8, 2018
THE WALT DISNEY COMPANY REPORTS
FOURTH QUARTER AND FULL YEAR EARNINGS FOR FISCAL 2018
BURBANK, Calif. – The Walt Disney Company today reported earnings for its fourth quarter and fiscal year ended September 29, 2018. Diluted earnings per share (EPS) for the fourth quarter increased 37% to $1.55 from $1.13 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter increased 38% to $1.48 from $1.07 in the prior-year quarter. EPS for the year increased to $8.36 from $5.69 in the prior year. Excluding certain items affecting comparability(1), EPS for the year increased to $7.08 from $5.70 in the prior year.
“We’re very pleased with our financial performance in fiscal 2018, delivering record revenue, net income and earnings per share,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “We remain focused on the successful completion and integration of our 21st Century Fox acquisition and the further development of our direct-to-consumer business, including the highly anticipated launch of our Disney-branded streaming service late next year.”
The following table summarizes the fourth quarter and full year results for fiscal 2018 and 2017 (in millions, except per share amounts):
 
Quarter Ended
 
 
 
 
Year Ended
 
 
 
Sept. 29, 2018
 
Sept. 30, 2017
 
Change
 
Sept. 29, 2018
 
Sept. 30, 2017
 
Change
Revenues
$
14,307

 
$
12,779

 
12
%
 
 
$
59,434

 
$
55,137

 
8
%
 
Segment operating income(1)
$
3,290

 
$
2,812

 
17
%
 
 
$
15,706

 
$
14,775

 
6
%
 
Net income(2)
$
2,322

 
$
1,747

 
33
%
 
 
$
12,598

 
$
8,980

 
40
%
 
Diluted EPS(2)
$
1.55

 
$
1.13

 
37
%
 
 
$
8.36

 
$
5.69

 
47
%
 
EPS excluding certain items affecting comparability(1)
$
1.48

 
$
1.07

 
38
%
 
 
$
7.08

 
$
5.70

 
24
%
 
Cash provided by operations
$
3,853

 
$
3,570

 
8
%
 
 
$
14,295

 
$
12,343

 
16
%
 
Free cash flow(1)
$
2,652

 
$
2,675

 
(1
%)
 
 
$
9,830

 
$
8,720

 
13
%
 
(1) 
EPS excluding certain items affecting comparability, segment operating income and free cash flow are non-GAAP financial measures. Fiscal 2018 included a net benefit from new U.S. federal income tax legislation (Tax Act). See the discussion on pages 8 through 11.
(2) 
Reflects amounts attributable to shareholders of The Walt Disney Company, i.e. after deduction of noncontrolling interests.


1

The following information was filed by Twdc Enterprises 18 Corp. on Thursday, November 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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