Disney Fiscal Second Quarter Revenues Up, Profit Slumps
May 11, 2011 at 4:30 AM (PT)
The WALT DISNEY COMPANY reported revenues up 5.8% to $908 billion and profit slipping from $953 million to $942 million for fiscal second quarter, a weaker-than-expected performance. Earnings were hut by a charge for the purchase of PLAYDOM last year as well as the timing of EASTER, the box office flop "MARS NEEDS MOMS," and other factors making a year-to-year comparison difficult. Diluted earnings per share rose 2% to 49 cents.
The media networks sector shows a 12% revenue increase to $4.3 billion, with segment operating income up 17% to $1.5 billion. The broadcasting division saw operating income grow $44 million, credited to revenue growth at ABC television. The performance of the company's radio properties, ESPN RADIO and RADIO DISNEY, is not broken out in DISNEY's financial reports.