ESPN, Parks Helps Disney To 12% Increase In Q4 Profit From Year Ago

An increase in visitors and spending at its theme parks, along with a “strong contribution” from ESPN, helped Disney report a 12% Q4 profit increase, according to Thomas Mulligan of the L.A. TIMES. Disney recorded net income of $877M, or $0.44 a share, for the quarter ending September 29, compared with $782M, or $0.36 a share, in the year-ago period. Revenue rose 3.2% to $8.93B from $8.65B a year ago. ESPN, “buoyed in part by the addition of NASCAR, led the way," as operating income for Disney’s media networks jumped 25% to $1.07B from $850M a year ago.  Disney shares rose $0.13 to $33.63 on a “turbulent day in the stock market” (L.A. TIMES, 11/9).  Higher cable fees and advertising revenues from ESPN also helped drive Disney's operating income (N.Y. TIMES, 11/9). As of presstime, Disney shares were trading at $32.50, down 3.36%  from Thursday's close (THE DAILY).