Disney Earnings Helped by Television, as Cable and Broadcasting Both Gain

Feb 9, 2011  •  Post A Comment

Growth at Walt Disney Co.’s television networks helped boost the company’s first-quarter earnings, reports Jon Lafayette at B&C.

Net income was $1.3 billion, or 68 cents a share, up 54% from $844 million, or 44 cents a share, a year earlier, the story notes.

Disney’s Media Networks group reported a 47% jump in operating income, which reached $1.1 billion, while revenue rose 11% to $4.6 billion. Income rose 64% for broadcasting and 42% for cable networks, with broadcasting seeing a 4% rise in sales and cable networks reporting a 16% jump in revenue, the story says.

Growth at ESPN and the Disney Channel helped, with ESPN ad sales rising 34% in the quarter. Disney Chief Executive Bob Iger said the sports marketplace has been so strong that ESPN has added commercial inventory to its shows.

Your Comment

Email (will not be published)