News Column

Disney's Profits Are Magical

May 7, 2013
Disney studios

Walt Disney Company posted a 32-per-cent rise in second quarter profits as a stronger economy saw increased spending at the company's globe-spanning chain of theme parks and resorts.

The entertainment conglomerate, which also owns the ABC television network as well as ESPN, said that it earned 1.86 billion dollars in the quarter, up from 1.73 billion dollars a year earlier.

Revenues rose 10 per cent to 10.55 billion dollars from 9.63 billion dollars last year.

Disney's Parks and Resorts division showed the strongest growth with revenues up 14 per cent to 3.3 billion dollars, and profits rising 73 per cent to 383 million dollars.

The company's media networks also benefited from a stronger economy as higher demand for advertising sent revenues up 6 per cent to 4.98 billion dollars, with profits rising 8 per cent to 1.86 billion dollars.

"With adjusted earnings per share up 36 per cent over last year, we're obviously pleased with our second quarter," said Robert A. Iger, chairman and CEO of the Walt Disney Company.

"Our results reflect our successful strategy, the strength of our brands and the value of our high-quality creative content, all of which continue to drive long-term growth and shareholder value."

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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