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Disney Posts ‘Incredible(s)' Q2

11 May, 2005 By: Erik Gruenwedel

Strong U.S home video sales of Pixar Animation Studios' The Incredibles helped offset weaker international video unit sales as The Walt Disney Co. posted second quarter (ended April 2) net income of $698 million, or 33 cents per diluted share, compared to $537 million, or 26 cents per share during the same period last year.

Studio entertainment revenue, which includes home video, increased 5 percent to $2.3 billion, while operating income (before interest and tax charges) rose 65 percent to $253 million.

Increased attendance at Disney theme parks also contributed to the rise in earning, the company said.

Total revenue for the quarter was up almost 9 percent, to $7.8 billion, from nearly $7.2 billion last year.

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