Disney Revenues Rise, Net Income Falls In Fiscal First Quarter 2013
February 5, 2013 at 4:19 PM (PT)
THE WALT DISNEY COMPANY first quarter fiscal 2013 (three months ending DECEMBER 29th, 2012) overall revenues rose 5% to $11.341 billion, but net income fell 6% to $1.382 billion (77 cents/share).
“After delivering another record year of growth in 2012, we're off to a solid start in Fiscal 2013,” said Chairman/CEO BOB IGER. “Our ongoing success is driven by our long-term strategy, the strength of our brands and businesses, and our high quality family entertainment.”
The Media Networks division, which includes the company's radio interests, ESPN AUDIO/ESPN RADIO and RADIO DISNEY, saw revenues rise 7% to $5.1 billion and segment operating income increase 2% to $1.214 billion, despite a decrease at ESPN caused by higher programming and production costs. (Radio financial information is not broken out in the company's figures.)