Disney Q4 Profit Up 12 Percent

BURBANK: The Walt Disney Company reported fourth-quarter net income of $1.4 billion, a 12-percent gain on the year-ago period, thanks to the strong performance from interactive, consumer products and theme parks.

For the fourth quarter, revenues were $11.6 billion, up 7 percent from Q4 2012.

Media Networks revenues were relatively flat, increasing just 1 percent to $4.9 billion; segment operating income fell 8 percent to $1.4 billion. Within that segment, the cable networks saw revenues rise 1 percent to $3.6 billion, and broadcasting revenues were up 2 percent to $1.4 billion. Operating income for the cable networks was down 7 percent, to $1.3 billion, while the broadcasting unit saw operating income fall 18 percent to $158 million.

Parks and Resorts were a bright spot, with revenues up 8 percent to $3.7 billion and operating income up 15 percent to $571 million.

Studio entertainment revenues gained 7 percent for the quarter ended September 28 to $1.5 billion; segment operating income was up 35 percent to $108 million.

Consumer Productions also had healthy gains. Revenues were up 14 percent to $1 billion and operating income was up 30 percent to $347 million.

Ineractive revenues increased by $205 million to reach $396 million. The segment operating results improved from a loss of $76 million in the prior year to income of $16 million.

“We’re extremely pleased with our results for Fiscal 2013, delivering record revenue, net income and earnings per share for the third year in a row,” said Robert A. Iger, the chairman and CEO of The Walt Disney Company. “It was another great year for the company, both creatively and financially, and we remain confident that we are well positioned to continue our strong performance and drive long-term shareholder value.”