Exhibit 99.1
FOR IMMEDIATE RELEASE
November 10, 2016
THE WALT DISNEY COMPANY REPORTS
FOURTH QUARTER AND FULL YEAR EARNINGS FOR FISCAL 2016
Revenues for the year increased 6% to a record $55.6 billion.
Net income for the year increased 12% to a record $9.4 billion.
EPS for the year increased 17% to a record $5.73.
BURBANK, Calif. – The Walt Disney Company today reported earnings for its fourth quarter and fiscal year ended October 1, 2016. Diluted earnings per share (EPS) for the fourth quarter increased 16% to $1.10 from $0.95 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter decreased 8% to $1.10 from $1.20 in the prior-year quarter. Diluted EPS for the year increased 17% to $5.73 from $4.90 in the prior year. Excluding certain items affecting comparability(1), EPS for the year increased 11% to $5.72 from $5.15 in the prior year.
Due to our fiscal period end, results for the fourth quarter and full year of fiscal 2015 include the benefit from one additional week of operations (Fiscal Period Impact) compared to the current-year periods. The estimated EPS impact of the additional week of operations was approximately $0.13 for the prior-year periods, and the majority of the impact was in our Cable Networks business, followed by our Parks and Resorts and, to a lesser extent, our Consumer Products businesses.
“We’re very pleased with our performance for the year, delivering the highest revenue, net income and earnings per share in Disney’s history,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “Fiscal 2016 was our sixth consecutive year of record results, highlighted by the opening of Shanghai Disney Resort, the phenomenally successful return of Star Wars, and our Studio’s record-breaking $7.5 billion in total box office. We remain confident that Disney will continue to deliver strong growth over the long-term as we further strengthen our brands and franchises, our technological capabilities, and our international presence.”
The following table summarizes the fourth quarter and full year results for fiscal 2016 and 2015 (in millions, except per share amounts):
 
Quarter Ended
 
 
 
 
Year Ended
 
 
 
Oct. 1, 2016
 
Oct. 3, 2015
 
Change
 
Oct. 1, 2016
 
Oct. 3, 2015
 
Change
Revenues
$
13,142

 
$
13,512

 
(3
)%
 
 
$
55,632

 
$
52,465

 
6
%
 
Segment operating income(1)
$
3,176

 
$
3,534

 
(10
)%
 
 
$
15,721

 
$
14,681

 
7
%
 
Net income(2)
$
1,771

 
$
1,609

 
10
 %
 
 
$
9,391

 
$
8,382

 
12
%
 
Diluted EPS(2)
$
1.10

 
$
0.95

 
16
 %
 
 
$
5.73

 
$
4.90

 
17
%
 
EPS excluding certain items affecting comparability(1)
$
1.10

 
$
1.20

 
(8
)%
 
 
$
5.72

 
$
5.15

 
11
%
 
Cash provided by operations
$
3,827

 
$
3,328

 
15
 %
 
 
$
13,213

 
$
10,909

 
21
%
 
Free cash flow(1)
$
2,745

 
$
2,124

 
29
 %
 
 
$
8,440

 
$
6,644

 
27
%
 
(1) 
EPS excluding items affecting comparability, segment operating income and free cash flow are non-GAAP financial measures. See the discussion on pages 8 through 10.
(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 10, 2016 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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