Disney Q2 Broadcasting Revenues Flat, Income Up
May 9, 2007 at 5:46 AM (PT)
The WALT DISNEY CO. second fiscal quarter overall revenues rose 1% to $8.073 billion, with net income up 27% to $931 million (44 cents/diluted share). The company's media networks division, which includes its radio, TV, and cable operations, was essentially flat at $3.561 billion in revenues; broadcasting, which includes radio, TV, and TV syndication, rose $52 million to $212 million.
"I'm pleased to report another excellent quarter, with double digit increases in earnings per share as well as operating income across all of our business segments," said Pres./CEO BOB IGER. "DISNEY's second quarter results confirm the strength of our strategic vision and the quality of the management team that is executing on it."
The company, which does not separately report radio revenues, is in the process of selling most of its ABC RADIO interests to a venture created by CITADEL. It is retaining the ESPN RADIO and RADIO DISNEY O&O stations.