Los Angeles Business Journal

Disney Profit Rises

By Deborah Crowe Thursday, November 8, 2012

Walt Disney Co. reported higher fiscal fourth-quarter net income, helped by higher revenue collected by its ESPN sports network. Revenue came in slightly short of expectations, however.

After the markets closed on Thursday, the Burbank entertainment giant reported net income of $1.24 billion (68 cents per share), up 14 percent (10 cents) for the same period a year earlier. Revenue rose 3 percent to almost $10.8 billion.

Analysts surveyed by FactSet expected net income of 68 cents a share on sales of $10.9 billion.

Shares earlier closed down 4 cents, or less than 1 percent, to $50.04 on the New York Stock Exchange, and fell 2 percent in after-hours trading.