Fourth-quarter revenues at The Walt Disney Company were up 12 percent to $14.3 billion, with net income rising by 33 percent to $2.3 billion.
“We’re very pleased with our financial performance in fiscal 2018, delivering record revenue, net income and earnings per share,” said Robert A. Iger, chairman and CEO. “We remain focused on the successful completion and integration of our 21st Century Fox acquisition and the further development of our direct-to-consumer business, including the highly anticipated launch of our Disney-branded streaming service late next year.”
Media networks revenues were up 9 percent in the period to $6 billion, with operating income up 4 percent to $1.5 billion. Cable networks delivered revenues of $4.1 billion, a 5-percent gain, powered by Disney Channels and Freeform, but operating income fell by 6 percent to $1.2 billion as a result of a loss at BAMTech. Broadcasting revenues, meanwhile, were up 21 percent to $1.8 billion, with operating income rising to $379 million. The segment recorded higher program sales and affiliate revenue growth, with stable ad revenues.
Studio entertainment revenues surged by 50 percent to $2.2 billion, and profit more than doubled to $596 million. The segment posted growth in theatrical distribution and higher TV/SVOD and home entertainment distribution results.
Parks and resorts operating income grew by 11 percent to $829 million on revenues of $5.1 billion.
Consumer products and interactive media was the only division to post weaker results, with revenues slipping by 8 percent to $1.1 billion and operating income down 10 percent to $337 million.