Disney (DIS): Walt Would Be Proud
Disney (DIS) had the kind of quarter that a company based on the fantastic should have.
Diluted EPS for the second quarter increased to $0.58, compared to $0.44 in the prior-year quarter. Revenu rose 10% to $8.71 billion. Segment operating income was up 21% to $2.14 billion.
The company’s studios were the stars. Their revenue rose 18% to $1.822 billion. Operating income was up 61% to $377 million.
The company’s parks did unusually well given the economic slowdown. Revenue rose 11% to $2.725 billion. Operating income was up 33% to $339 million.
Disney’s largest division, its media networks, had slower growth with 5% revenue increase and a 14% segment operaing income bump to $1.317 billion. ESPN did well. ABC did not.
In tough times, investors in the company got a trip to Disney Land.
Shares rose 2.7% on the news to $34.60.
Douglas A. McIntyre