Walt Disney Co. late Tuesday reported slightly lower fiscal first quarter net income as restructuring charges offset cost cuts and some gains at its cable TV channels. Adjusted earnings beat analyst expectations.

After the markets closed, the Burbank entertainment giant reported net income of $844 million (44 cents per share) for the period ended Dec. 31, compared with income of $845 million (45 cents) a year earlier. Revenue rose 1 percent to $9.74 billion.

Excluding one-time items, net income rose 15 percent to 47 cents per share. Analysts surveyed by Thomson Reuters on average expected the company to report adjusted per-share net income of 38 cents on revenue of nearly $9.66 billion.

Disney’s media network division saw a 7 percent increase in sales. ESPN and Disney Channel had higher ad revenues, but Disney’s ABC broadcast network, which has suffered from lower ratings, was hurt by lower advertising rates.

Film studio revenue was flat, but cost-cutting boosted operating income by 30 percent. Theme park revenues also were flat and income was down 2 percent, as higher attendance at the company’s U.S. parks offset by a decline at Disneyland Paris.

Consumer products revenue fell 3 percent, and operating income was down 8 percent, as the company saw lower licensing revenue from its “High School Musical” and “Hannah Montana” franchises.

Shares earlier closed up 1 percent to $9.84, but fell about 1 percent in afterhours trading.