Disney Reports Hike in Profit

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Walt Disney Co. reported net income that exceeded Wall Street expectations but still saw its share fall when its revenue came up short.


Disney reported net income of $931 million (44 cents per share), a 27 percent hike from $733 million (37 cents) from the same period a year. Profit was boosted by strong performance in several businesses, including its movies, theme parks and consumer products. Analysts’ predicted 38 cents per share, according to a poll by Thomson Financial.


Revenue inched up slightly to $8.1 billion, just short of Wall Street predictions. The company cited revenue gains from its film studio, ESPN cable sports network, ad sales and international sales of its TV shows.


“I’m pleased to report another excellent quarter, with double digit increases in earnings per share as well as operating income across all of our business segments,” said Chief Executive Robert Iger in a statement.


Shares in Disney closed up 49 cents Tuesday on the New York Stock Exchange but then lost 48 cents in after-hours trading to $36.05.

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