Disney Earnings Beat Expectation On Strong Results At Cable Networks

(RTTNews) - Entertainment giant Walt Disney Co. (DIS) announced a quarterly profit that rose from last year, beating the expectation of market analysts.

The top line advanced by 9 percent, helped by double-digit revenue growth at its media networks unit, at its consumer products division and at its theme parks. This more than offset a decline in revenue at its interactive unit.

Results from the firm's cable networks were especially strong, with 12 percent revenue growth and a 27 percent improvement in operating income.

The company reported net income for the fourth quarter that rose to $1.61 billion, or $0.95 per share. This compared to $1.5 billion, or $0.86 per share, in the same period last year.

Excluding one-time items, the firm's bottom line climbed to $1.20 per share from $0.89 per share last year.

Analysts were looking for the company to make $1.14 per share, according to a survey conducted by Thomson Reuters.

Disney said revenues for the quarter climbed 9 percent to $13.51 billion. Last year, the figure came in at $12.39 billion.

Wall Street experts had predicted the firm to post revenue of $13.55 billion.