Strong Fourth-Quarter Results at Disney

BURBANK: The Walt Disney Company reported a 30-percent year-on-year gain in net income for its fourth quarter, reaching $1.09 billion, while revenue was up 7 percent to $10.4 billion.

Revenues at the Media Networks segment increased 9 percent in the quarter to $4.8 billion and operating income was up 20 percent to $1.5 billion. Within the segment, Cable Networks revenue increased 11 percent to $3.46 billion, with operating income up 18 percent to $1.26 billion; the gains were driven by growth at ESPN and the worldwide Disney Channels. Operating income at Broadcasting grew 37 percent to $201 million, with revenues up 4 percent to $1.3 billion. There were fewer programming and production costs at the broadcast networks this quarter, due in part to a shift in hours from original scripted shows to reality content, among other factors.

Parks and Resorts revenues grew 11 percent to $3.12 billion, while Studio Entertainment revenues fell 8 percent to $1.45 billion.