Disney Fiscal Q3 Revenues, Profit Up
August 7, 2014 at 3:58 AM (PT)
THE WALT DISNEY COMPANY's fiscal third-quarter revenues rose 8% to $12.466 billion, with net income jumping 22% to $2.245 billion ($1.28 per share).
Media networks revenue rose 3% to $5.511 billion, with the broadcasting segment up 7% to $1.569 billion and cable networks showing a 1% increase to $3.942 billion. Revenue for the company's radio properties, ESPN AUDIO and RADIO DISNEY, is not broken out from the segment.
Chairman/CEO BOB IGER said, “Our strategy of building strong brands and franchises continues to create great value across our company. This quarter we delivered the highest EPS in the company’s history, and we’ve now generated greater EPS in the first three quarters of FY 2014 than we have in any previous full fiscal year. We’re extremely pleased with these results and we are also thrilled with the spectacular performance of GUARDIANS OF THE GALAXY, which holds great promise as a new franchise for our company and once again reinforces the tremendous value of MARVEL.”
He later told a conference call that the company is seeing advertising growth for new media at the expense of television and has cut back its reliance on advertising as a result.