Disney reports Q1 profit
February 11, 2010
The Walt Disney Company has reported first-quarter profit that beat analysts' estimates as TV revenue rose and theme-park results stabilised.
Net income totalled $844 million compared with $845 million a year earlier, when a gain on the sale of TV stations boosted results. Disney's revenue from digital operations exceeded $2 billion in 2009, Bob Iger, chief executive said.
Disney's cable networks including ESPN, Disney Channel and ABC Family, reported a 5.2 per cent gain in profit to $544 million as revenue increased 8.2 per cent to $2.65 billion.
Broadcasting profit, including the ABC network and local stations, increased 30 percent to $180 million from a year earlier. Revenue rose 4.8 per cent to $1.52 billion.