Disney EchoEar Grand Mouseter
Joined: April 1992
||Posted: May 08, 2012, 5:23 pm
Disney doing spiffy, read on, theme parks and TV networks boosting profits this fiscal quarter. Absence of costs at ABC related to "The Oprah Winfrey Show"??? Disney's making money without Oprah, never knew they were making money with Oprah! And that major "John Carter" write off last fiscal quarter, three months from tray, will be offset by the huge profits being made off of "Marvel's The Avengers" movie this fiscal quarter. Keep all that in mind. Quoting:
May 8, 2012, 4:48 p.m. EDT
Disney profit rises 21% on parks, TV networks
By David B. Wilkerson, MarketWatch
CHICAGO (MarketWatch) — Walt Disney Co. said Tuesday that its fiscal second-quarter profit rose 21% on improved earnings at its ESPN and ABC television networks and theme parks.
The results surpassed most analysts’ estimates, sending Disney’s shares DIS +1.45% up 1.4% in after-hours trading.
The entertainment conglomerate said it earned $1.14 billion, or 63 cents a share, compared with a profit of $942 million, or 49 cents, in the year-ago period.
Excluding items, Disney said it would have earned 58 cents a share in the latest three months.
Analysts polled by FactSet Research were expecting a profit of 55 cents a share on revenue of $9.56 billion.
Operating income at the company’s cable networks, including ESPN and Disney Channel, rose 11% to $1.5 billion on greater fees paid to ESPN by cable and satellite companies, as well as higher advertising revenue.
Earnings at ABC increased by 37% on the absence of costs related to “The Oprah Winfrey Show” and improved ad sales.
At the theme parks and resorts unit, operating income rose 53% to $222 million on increased guest spending, reflecting higher average ticket prices, daily hotel room rates and food, beverage and merchandise spending. Revenue rose 10%, driven by better results at the U.S. domestic parks and resorts, Tokyo Disney and Hong Kong Disneyland.
Disney’s movie and television studios swung to a loss of $84 million from a profit of $77 million, as results were hampered by the colossal failure of the action film “John Carter.”
David B. Wilkerson is a reporter for MarketWatch in Chicago.
End of quoted material.
More good news is that about a year after the Japanese earthquake and tsunami Tokyo DL is bouncing back. Tokyo was geographically far from the worst of what happened, and where it was less hard hit commerce and tourism picks up, and that success feeds the overall economy. Visit Tokyo DL and help Japan recover from the disaster last year!
Folks, look to Google News Advanced Search or your favorite financial news source for more info tonight and tomorrow-near future.