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Higher ESPN Costs Can’t Slow Disney Earnings

The Walt Disney Co. reported higher profits despite lower income from ESPN.

Net income rose 10% to $2.1 billion, or $1.23 per share, from $1.9 billion, or $1.08 a share, a year ago.

Revenue rose 7% to $12.5 billion.

“Our second quarter performance, marked by increased revenue, net income and EPS of $1.23, demonstrates the incredible ability of our strong brands and quality content to drive results,” saidCEO Bob Iger in a statement. “The power of this winning combination is once again reflected in the phenomenal worldwide success of Marvel’s Avengers: Age of Ultron, which has opened at number one in every market so far.”

Read more at Broadcastingcable.com.

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.