Disney Posts 30 Percent Boost in Quarterly Net Income As Theme Parks Soar

The Walt Disney Co. on Thursday said it notched a 30 percent rise in net income to $1.25 billion on revenue that rose 7 percent to $10.43 in its fiscal fourth quarter, matching expectations on the top line. On a per-share basis, Disney posted 58 cents in profit while Wall Street analysts had predicted 55 cents. In the same quarter a year ago, Disney reported a profit of 43 cents per share. Studio entertainment revenue sunk 8 percent, while all other segments posted rising revenue on the quarter. The studio, though, recorded a respectable 13 percent rise in operating income. Disney blamed strong comparisons for sinking studio revenue, as Cars 2, Tangled, Thor, Captain America and Pirates of the Caribbean: On Stranger Tides didn't measure up to last year's Toy Story 3, Alice in Wonderland, Iron Man 2 and Princess and the Frog. With a 33 percent gain, Disney's parks and resorts segment scored the biggest improvement in operating income due to the inclusion of the Disney Dream cruise ship and higher ticket prices at the parks, where customers also spent more on food and merchandise. Disney shares rose 2.5 percent during the regular session Thursday to $34.64 and advanced another 2.6 percent in after-hours trading. Disney CEO Bob Iger and other top executives will discuss the earnings in a conference call later today, where some are expecting at least one of the analysts on the call to ask for an update on the suddenly controversial Oscar telecast that airs on Disney's ABC network in February. Disney's earnings wrapped up the season for the conglomerates. Before the opening bell on Thursday, Viacom reported better-than-expected quarterly financials, sending its stock 5 percent higher on the day. Related Topics ABC Bob Iger Oscars Viacom The Walt Disney Company