Disney earnings up in fiscal second quarter   2011-05-11 10:18:34 FeedbackPrintRSS

LOS ANGELES, May 10 (Xinhua) -- The Walt Disney Co. on Tuesday reported increased revenues in most of its divisions for the fiscal second quarter, with diluted earnings per share (EPS) increasing two percent to 49 cents, compared to 48 cents in the prior-year quarter.

Though less than expected, Disney's revenue grew six percent to 9.07 billion U.S. dollars in the fiscal second quarter, according to the company based in Burbank near Los Angeles.

Diluted EPS for the six months ended April 2 was 1.16 dollars, compared to 93 cents in the prior-year period, the company said.

"We are pleased with the underlying quality of our second quarter earnings," said Disney President and Chief Executive Officer Robert A. Iger. "There is great creative momentum throughout the company which gives us continued confidence in our ability to grow our businesses."

But the Studio Entertainment decreased 13 percent to 1.3 billion in quarterly revenues and segment operating income dropped 65 percent to 77 million.

Lower operating income was primarily due to decreases in worldwide home entertainment and worldwide theatrical distribution and higher film cost write-downs, according to the company.

The Japanese earthquake had a bigger-than expected impact, about 25 million dollars, on Disney's Japanese park as well as consumer products, the company said.

Revenues from the movie "Mars Needs Moms" also fell short of expectations, leaving collateral damage on the company, sources said.

Editor: Yang Lina
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