Income Rises 54 Percent for Disney in Q1

The Walt Disney Co. saw revenue increases in all of its business divisions for the first quarter when compared to a year ago, with the exception of studio entertainment, which had flat revenues. The Burbank-based entertainment and media conglomerate reported net income of $1.3 billion, or $0.68 per diluted share, on revenues of $10.7 billion for the quarter ending Jan. 1. That is a 54 percent increase over the net income of $844 million, or $0.44 per diluted share, on revenues of $9.7 billion for the same period in 2009. The net income increase was a great start to the fiscal year, Disney CEO and President Robert Iger. Out of the five business units, only filmed entertainment showed no growth in revenue. For the first quarter, features films and home entertainment releases brought in $1.9 billion, the same amount as for the first quarter a year ago. Media networks showed an 11 percent increase in revenues, attributed to higher advertising rates, sold inventory, and affiliate fees. Higher guest spending at both U.S. and overseas theme parks contributed to an revenues of $2.9 billion in the first quarter, an 8 percent increase over the $2.7 billion from the first quarter from the year before. Mark R. Madler