MUMBAI: Impressive revenue growth at its parks and resorts and studio entertainment businesses saw Walt Disney Co.'s fiscal second-quarter net income improving by 71 per cent.
The company posted net income of $537 million for the quarter ended March 31, compared with $314 million a year earlier. Disney's revenue rose 11 per cent to $7.19 billion from $6.5 billion.
Disney's studio entertainment unit raised its revenue by 16% to $2.16 billion, but operating income fell 26% to $153 million on the back of a disappointing box- office performance of films such as Cold Mountain, Hidalgo and Miracle. Still, higher DVD sales of films, including The Lion King 1 1/2, Finding Nemo, Pirates of the Caribbean helped Disney to sail through.
Parks and resorts revenue climbed 12% to $1.67 billion, as increased attendance at Disney's two domestic theme parks was partly offset by an increase in employee-benefit costs.
