Company No recession for Disney

[Tom Morrow]

No economic recession for Disney

Disney brushes off recession worries Media and entertainment giant's second-quarter earnings exceed expectations, stock up after-hours CNN Money Walt Disney Co. reported sales and profit for the fiscal second quarter Tuesday that exceeded expectations, a sign that advertising spending and theme park attendance is holding up in a tough economy. Shares of Disney rose almost 3% in after-hours trading. For the quarter ended March 29, Disney reported revenue of $8.71 billion, led by strong growth in its movie and television network businesses as well as its theme parks unit. Sales rose 10% from a year ago and beat consensus estimates of $8.47 billion according to analysts surveyed by Thomson Financial. With its diverse portfolio of music, movies, television and theme park businesses, the media giant has been able to outperform its competitors, despite the industry's perceived vulnerability to economic turmoil. by Kenneth Musante complete article

Disney press release:

• The Walt Disney Company Reports Second Quarter Earnings
  Business Wire

Related Articles:

• No such thing as recession in Disneyland?
  Fortune
  
  
• Disney Profit May Have Risen on Sequel to `Treasure'
  Bloomberg
  
  
• Theme parks help Disney's quarter
  The New York Times

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[Kileli]

I'll bet half of that is from HM and HSM.

I thought Disney was loosing money, but I guess not. Good thing too.