Disney profit up on studios, theme parks
Media firm posts gains in all four divisions, including movie studio
From the Associated Press.
LOS ANGELES - Strong DVD sales of “Chronicles of Narnia” and continued growth at its domestic theme parks drove higher third-quarter revenue and profits at The Walt Disney Co.
The Burbank, Calif.-based media conglomerate reported gains in all four divisions, including its movie studio, which had been lagging of late and last month laid off 650 people in a worldwide restructuring.
Results also benefited from a one-time gain related to its acquisition of Pixar Animation Studios.
Disney reported net income of $1.13 billion, or 53 cents per share, compared with net income of $811 million, or 39 cents per share, in the same period last year.
The results handily beat analyst estimates of 44 cents per share as surveyed by Thomson Financial. Revenue grew 12 percent to $8.62 billion from $7.72 billion last year.
The company also saw growth in its Media networks division, driven mainly by subscriber and advertiser growth at its ESPN cable channel.
Media firm posts gains in all four divisions, including movie studio
From the Associated Press.
LOS ANGELES - Strong DVD sales of “Chronicles of Narnia” and continued growth at its domestic theme parks drove higher third-quarter revenue and profits at The Walt Disney Co.
The Burbank, Calif.-based media conglomerate reported gains in all four divisions, including its movie studio, which had been lagging of late and last month laid off 650 people in a worldwide restructuring.
Results also benefited from a one-time gain related to its acquisition of Pixar Animation Studios.
Disney reported net income of $1.13 billion, or 53 cents per share, compared with net income of $811 million, or 39 cents per share, in the same period last year.
The results handily beat analyst estimates of 44 cents per share as surveyed by Thomson Financial. Revenue grew 12 percent to $8.62 billion from $7.72 billion last year.
The company also saw growth in its Media networks division, driven mainly by subscriber and advertiser growth at its ESPN cable channel.
