Walt Disney Co. reported an increase in second quarter profits thanks to gains by its television properties and theme parks. The company's net income rose 21% to $1.14 billion, or 63 cents a share, from $942 million, or 49 cents a share, a year ago. Revenues rose 6% to $9.6 billion.
Disney's broadcasting operations, including ABC, registered a 37% increase in operating income to $229 million on a 2% gain in revenue to $1.5 billion.
Operating income got a boost from lower programming and production costs because of the end of the syndicated OPRAH WINFREY SHOW and decreased daytime and news production costs at ABC. The network had higher ad rates and revenues, offset partially by a decrease at the TV stations unit.
DAYTIME SOAP OPERAS
