Disney reported strong fiscal-first-quarter results, driven largely by its film and cable-television units.
Revenue for the quarter was up 10% to $9.7 billion and operating income rose 45% to $1.99 billion.
Revenue at its Studio Entertainment division was up 29% to $2.6 billion, while operating income rose nearly fivefold from $128 million to $604 million, driven largely by box-office gains from movies like Pirates of the Caribbean: Dead Man’s Chest and Cars.
At Media Networks -- which includes Disney’s cable channels and the ABC broadcast network -- revenue rose 6% and operating income was up 24%.
Cable networks had the strongest performance -- revenue rose 12% to $2.1 billion compared with a 1% increase for broadcast TV. Operating income at the broadcast unit rose 27% to $297 million while the cable networks saw a 24% gain to $453 million.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.