Disney 2Q profit beats forecasts
LOS ANGELES, Calif. - Disney says its second-quarter net income grew 21 per cent as better performance from pay TV network ESPN and its theme parks offset a loss at the movie studio.
Net income in the three months to March 31 rose to $1.14 billion, or 63 cents per share, from $942 million, or 49 cents per share, a year ago.
Excluding a gain related to its acquiring a controlling stake in Indian media company UTV and other charges, adjusted earnings came to 58 cents per share.
That topped the 55 cents expected by analysts polled by FactSet.
Revenue at The Walt Disney Co. rose 6 per cent to $9.63 billion from $9.08 billion. That also beat the $9.57 billion expected.
Shares in rose 88 cents, or 2 per cent, to $45.18 in after-hours trading.
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