From Google news:
http://quote.bloomberg.com/apps/news?pid=10000006&sid=ayU.muv60T4o&refer=home
Article is too long to post here, but here's the first part.
"Walt Disney Co., the second-largest U.S. media company, said first-quarter profit rose 7 percent after an unexpected jump in theme-park revenue. Disney also agreed to sell a stake in its ABC radio business.
Net income rose to $734 million, or 37 cents a share, from $686 million, or 33 cents, a year earlier, the Burbank, California-based company said today in a statement. Profit was 35 cents excluding a gain, beating the 31-cent estimate from Merrill Lynch analyst Jessica Reif Cohen. Sales rose 2.2 percent to $8.85 billion.
Profit at the parks unit rose 51 percent to $375 million as more visitors attended Disneyland and Disneyworld and paid more for tickets. More advertising revenue bolstered results at the ABC television network. Disney Chief Executive Officer Robert Iger agreed to buy Pixar for $7.4 billion last month to rebuild the company's film unit, where profit fell.
``I think theme parks are most steady,'' Michael Cuggino, president at Pacific Heights Asset Management in San Francisco, said. ``Attendance was up, restaurant and hotel lodgings were up. Theme park attendance was up. A steady performance across the board.''
Shares of Disney rose 54 cents, or 2.1 percent, to $25.50 at 5:13 p.m. in extended trading. Earlier today they fell 3 cents to $24.98 in New York Stock Exchange composite trading. The stock fell 14 percent last year, compared with a 10 percent decline at Time Warner Inc., the world's biggest media company.
Disney agreed to merge its ABC radio network and 22 stations with Citadel Broadcasting Corp. in a transaction valued at about $2.7 billion. The deal reduces Disney's stake in a slower-growing unit as advertisers and listeners flock to satellite-radio services."
edited because I can't figure out how to use the quote feature for this.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=ayU.muv60T4o&refer=home
Article is too long to post here, but here's the first part.
"Walt Disney Co., the second-largest U.S. media company, said first-quarter profit rose 7 percent after an unexpected jump in theme-park revenue. Disney also agreed to sell a stake in its ABC radio business.
Net income rose to $734 million, or 37 cents a share, from $686 million, or 33 cents, a year earlier, the Burbank, California-based company said today in a statement. Profit was 35 cents excluding a gain, beating the 31-cent estimate from Merrill Lynch analyst Jessica Reif Cohen. Sales rose 2.2 percent to $8.85 billion.
Profit at the parks unit rose 51 percent to $375 million as more visitors attended Disneyland and Disneyworld and paid more for tickets. More advertising revenue bolstered results at the ABC television network. Disney Chief Executive Officer Robert Iger agreed to buy Pixar for $7.4 billion last month to rebuild the company's film unit, where profit fell.
``I think theme parks are most steady,'' Michael Cuggino, president at Pacific Heights Asset Management in San Francisco, said. ``Attendance was up, restaurant and hotel lodgings were up. Theme park attendance was up. A steady performance across the board.''
Shares of Disney rose 54 cents, or 2.1 percent, to $25.50 at 5:13 p.m. in extended trading. Earlier today they fell 3 cents to $24.98 in New York Stock Exchange composite trading. The stock fell 14 percent last year, compared with a 10 percent decline at Time Warner Inc., the world's biggest media company.
Disney agreed to merge its ABC radio network and 22 stations with Citadel Broadcasting Corp. in a transaction valued at about $2.7 billion. The deal reduces Disney's stake in a slower-growing unit as advertisers and listeners flock to satellite-radio services."
edited because I can't figure out how to use the quote feature for this.
