Disney’s Profits Rise 12% on Football and Park Gains
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Walt Disney Co. said fourth-quarter profit rose 12% on ESPN’s “Monday Night Football” and theme-park gains, reflecting chief executive officer Robert Iger’s focus on television and tourism.
Net income rose to $877 million, or 44 cents a share, from $782 million, or 36 cents, a year earlier, Burbank, Calif.-based Disney said yesterday in a statement. Sales gained 3.2% to $8.93 billion, shy of the $9 billion average of 19 analyst estimates compiled by Bloomberg.
Mr. Iger’s emphasis on TV and theme parks extended profit gains for the eighth-straight quarter since he took the top job. The cable division has been fueled by Mr. Iger’s decision to add Nascar races and football games on ESPN and gains at the Disney Channel from shows such as “High School Musical 2.”
