Disney: Q1 Earnings
Seth Gilbert, 02-7-2007
Disney (NYSE: DIS), reported strong Q1 earnings with help of big DVD sales for Cars and Pirates of the Caribbean: Dead Man’s Chest.
For the first quarter, ended Dec. 30, net income was more the double, buoyed by gains from the sale of interests in E! Channel and Us Weekly for $1.1b. Excluding that transaction revenue, Q1 revenue was up 10% to $9.7b and earnings per share were up $0.15 over the prior year to $0.50 a share.
The movie studio had operating income of $604m over $128m last year.
Outlook for the coming year is strong with another Pirates sequel and other Pixar productions do for release.
Profits for the media divisions rose to $750m, up 24%.
More detailed press coverage on Disney’s finances can be found at:
