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Disney, Nordstrom Down on Earnings; NVDA Up

Zacks

The Walt Disney Co. DIS missed expectations on both top and bottom lines, posting $1.07 per share on quarterly sales of $12.78 billion, below the estimates of $1.12 and $13.15 billion, respectively. Both figures are beneath Disney's year-ago results, as well. Shares have fallen more than 4% immediately upon the report hitting the tape.

Media Networks looks to have had the biggest shortfall of all the entertainment conglomerate's businesses. Broadcasting income fell 15% in the quarter, with flat results from ESPN. Parks and Resorts beat expectations. The upcoming conference call will likely have many questions pertaining to Disney's proposal to purchase 21st Century Fox's movie studio and TV assets. For more info on DIS' earnings, click here.

Nordstrom JWN routinely outperformed earnings estimates for its fiscal Q3, bringing in 67 cents per share, above the 63 cents expected, on $3.63 billion in revenues, which also topped estimates. Online sales rose 14% year over year.

This marks at least the fifth straight quarter of a positive earnings surprise for the Zacks Rank #3 (Hold) department store retailer. Comps came in light of expectations, however, and the company lowered the high end of its earnings guidance. These results have sent the stock down in late trading today by 3.8%. For more on JWN's earnings, click here.

Chip-making giant nVIDIA NVDA also posted a typical big beat on its bottom line for fiscal Q3, with $1.33 per share easily surpassing the 94 cents in the Zacks consensus. Revenues of $2.64 billion were also well ahead of the anticipated $2.36 billion. The Zacks Rank #2 (Buy) company also upped its Q4 guidance, and shares have tiptoed into positive territory in the after-market following a slight sell-off during regular trading hours. NVDA is up 92% year to date. For more on NVDA's earnings, click here.

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