After disappointing the Street with a $200 million write-down on its “John Carter” bomb just two months ago, the Mouse House came roaring back yesterday and posted a 21 percent jump in profits in the second quarter.
CEO Bob Iger said strength in Disney’s theme parks and at its ESPN unit led the way.
On the strength of the news, Disney shares in after-hours trading hit an all-time high of $45.03.
The media networks unit, which houses cable channels including ESPN and ABC Family Channel, reported a 13 percent increase in operating income to $1.73 billion, thanks to strong advertising and affiliate growth at the sports network. Disney’s theme park division earnings rose 53 percent to $222 million, thanks to better attendance in the US.
The “John Carter” wound will be healed. Disney’s Marvel unit released “The Avengers” this quarter, which broke the record for biggest grossing opening weekend ever as it took in $207.1 million at the domestic box office and $702 million globally.
ESPN, John Carter, Disney shares, Bob Iger, ABC Family Channel, theme parks, theme park
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