Record Profit for Disney in Q3

BURBANK: Third-quarter revenues at The Walt Disney Company rose by 5 percent to $13.1 billion, with the company reporting a record profit of $2.5 billion, an 11-percent gain on the same period last year.

“The strong results across our many diverse lines of business demonstrate the power of our unparalleled brands, franchises and creative content," stated Robert Iger, the company's chairman and CEO.

Media networks revenues showed a 5-percent gain to $5.8 billion, delivering an operating income that was 4 percent higher at $2.4 billion. Cable network revenues were 5 percent higher at $4.1 billion and operating income rose by 7 percent to $2.1 billion thanks to gains at the U.S. Disney Channels, ABC Family and ESPN. At the broadcasting segment, meanwhile, operating income dropped 15 percent to $300 million on revenues that were 4 percent higher at $1.6 billion.

Studio entertainment revenues rose 13 percent to $2 billion, with operating income rising 15 percent to $472 million. Highlights included the theatrical performance of Marvel's Avengers: Age of Ultron and Cinderella, and international TV distribution revenues from the Star Wars titles.

Operating income in the consumer products segment gained by 27 percent to $348 million on revenues of $954 million, 6 percent higher than Q3 last year.

Parks and resorts revenues were up 4 percent to $4.1 billion, posting a $922 million operating income, a 9-percent increase.

Interactive revenues fell 22 percent to $208 million, with the division posting a $29 million operating income.