Disney Profits Exceed Expectations

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Disney Profits Exceed Expectations

LOS ANGELES (AP)- The Walt Disney Co. says strong growth in its media networks, film studios and theme parks lifted its second-quarter net profit 22 percent from a year ago.

The entertainment giant said Tuesday it earned $1.13 billion, or 58 cents per share, in the quarter ended March 29, compared with $931 million, or 44 cents per share, a year ago.

Revenue for the period grew 10 percent to $8.71 billion. The results beat Wall Street estimates. Analysts expected earnings of 51 cents per share on $8.47 billion in revenue, according to Thomson Financial.

Disney shares rose 44 cents, or 1.3 percent, to $33.73 before the results were announced after markets closed.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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